A former South Dakota employee handling the program of enticing foreign investors by rewarding them with green card has turned himself in. He has been charged with felony crimes but was released by the court on bond conditions.

According to KOTA News, the former employee, identified as Joop Bollen was charged on Thursday as per the announcement of South Dakota Attorney General Marty Jackley. He has been charged with five counts of disposal of personal property subject to security interest in relation to EB5 and SDRC Inc.

Jackley said in a statement that the investigation and the review of the case will continue so their might be additional charges against Bollen, ABC News reported.

EB5 is the controversial program that rewards foreign investors with visas. Initially, it was meant to provide foreigners with a permanent residency green card if they can invest at least $500,000 in U.S. projects and be able to create at least 10 jobs, Rapid City Journal reported.

Accordingly, the program was run out of the Governor's Office of Economic Development. Bollen was in charge of the program while he worked for South Dakota and contracted his own private company called SDRC Inc. to continue managing the project. SDRC Inc. was one of the company's set up to recruit investors for the program. As part of the contract of SDRC Inc. with the state government, the company was able to create several indemnification accounts and fund them with fees collected from investors.

Allegations about the project include millions of dollars being mishandled. Bollen is also accused of inappropriately transferring money, which amounted to more than $1.2 million, on different occasions back in 2012 out of the account that was meant to protect the state. The same amount of money was reportedly put back in to replenish the taken sum. Officials say most of the money taken were directly transferred to his company's main account.

There were a total of five transfers dated February 17, 2012, wherein two transfers took place, April 13, April 27, and May 7.

The EB5 program came under scrutiny after the supposed suicide of a former state official who was alleged of financial misconduct. The first court appearance of Bollen is set this Friday in Aberdeen.