Reuters reports that wealthy individuals from as far away as China, Nigeria, Russia and Australia are spending tens of millions of dollars to build classrooms, libraries, basketball courts and science labs for American charter schools.
In Buffalo, New York, foreign funds paid for the Health Sciences Charter School to renovate a 19th-century orphanage into modern classrooms and computer labs. In Florence, Arizona, overseas investment is expected to finance a sixth campus for the booming chain of American Leadership Academy charter schools. And in Florida, state business development officials say foreign investment in charter schools is poised to triple next year, to $90 million.
It turns out that under a federal program known as EB-5, wealthy foreigners can in effect buy U.S. immigration
