Not quite. You can find it if you're looking for it, but I've known and heard of some companies helping out with student payment programs or scholarships under the pretense that you will work for them at an agreed upon salary, albeit a bit lower than standard.
The initial case in the article suggests something similar where investors will "invest" in a student and bank on a successful career with repayments, similar to a student loan. I can't see this as being a negative that Indentured Servitude was.
The fact that national governments aren't to be trusted is not racist. Your implication and terribly bad misapplication of the word "racist" is more disturbing than someone not trusting said foreign government.
Video chat wouldn't be so bad if the friends or relatives can't physically be there.
But not as a 1:1 replacement. And certainly not for a fee. It's asinine for someone to have to pay for this and I hope someone drops a lawsuit on them for this obvious travesty.