Former EB-5 Visa Regional Center El Monte Being Investigated

In October 2011, EB5News.com reported and further chronicled in a video documenatry of failed projects on how the El Monte Regional Center in El Monte, California had its designation from USCIS revoked, meaning that it could no longer solicit capital or immigrant investors under the EB-5 Immigrant Investor visa program. In the agency’s own words, … Read moreFormer EB-5 Visa Regional Center El Monte Being Investigated

EB-5 Regional Center Operators Noble OutReach of New Orleans Lawsuit Update

New Orleans Regional Center lawsuit will get new counsel.    In April 2012, EB5News.com reported on a lawsuit brought forth by 27 EB-5 visa immigrant investors against New Orleans Regional Center operators William Hungerford and Tim Milbrath, both of which were hired by former New Orleans Mayor Ray Nagin. The investors were seeking an immediate accounting … Read moreEB-5 Regional Center Operators Noble OutReach of New Orleans Lawsuit Update

SEC Lifts Ban on General Solicitation

On July 10, 2013 the Securities and Exchange Commission adopted a long-awaited final rule to lift the ban on general solicitation and general advertising for certain private securities offerings. The final rule was adopted pursuant to the Jumpstart Our Business Startups (JOBS) Act passed in April 2012. The lifting of the general solicitation ban will … Read moreSEC Lifts Ban on General Solicitation

Successful Raise: EB-5 Funded Project Closes in Massachusetts

Boston-based regional center, EB-5 Jobs for Massachusetts (EB5MA), has successfully funded its most recent real estate project using EB-5 capital from foreign investors. The Melcher Street Project, located at 49 Melcher Street, is a restoration of a currently vacant, five-story historic building in the Seaport District of Boston.     About the Project   Real … Read moreSuccessful Raise: EB-5 Funded Project Closes in Massachusetts

RIMS Being Eliminated Due to Budget Cuts

On June 19, 2013, the Bureau of Economic Analysis, U.S. Department of Commerce, announced the elimination of its RIMS II product (Regional Input-Output Modeling System) due to budget cuts. RIMS II provides modeled estimates to the private sector and federal, state and local governments on the impact of a change in economic activity on a … Read moreRIMS Being Eliminated Due to Budget Cuts

Troubled EB-5 Funded Project Files Chapter 11

Northern Beef Packers laid off workers, needed more funding, eventually files Chapter 11 bankruptcy  The Northern Beef Packers plant, which opened in October 2012, is the most state-of-the-art facility in the U.S. In February 2012, EB5info.com reported on issues and setbacks surrounding the creation of Northern Beef Packers in Aberdeen, SD, an EB-5 funded project of … Read moreTroubled EB-5 Funded Project Files Chapter 11