Issues Raised From December USCIS EB-5 Stakeholder’s Meeting

On December 5, 2014 USCIS held their EB-5 Stakeholder’s Meeting in Washington, DC. This was the first stakeholder’s meeting after President Obama’s Nov. 20 speech relating to his Executive Order. Interestingly, although the USCIS EB-5 Program Chief Nicholas Colucci stated that the Executive Order would have “no direct impact” to the EB-5 Program, at the same time … Read moreIssues Raised From December USCIS EB-5 Stakeholder’s Meeting

USCIS Director Mayorkas under investigation for role in EB-5 visa approval

According to sources at the AP the Director of the U.S. Citizenship and Immigration Services, which overseas the EB-5 Immigrant Investor visa program, Alejandro Mayorkas is under investigation by Homeland Security’s Inspector General Office for his role in helping secure a visa for a Chinese executive and along with other officials at USCIS may have … Read moreUSCIS Director Mayorkas under investigation for role in EB-5 visa approval

Q&A on SEC and USCIS Joint Investor Alert Regarding EB-5 Fraud

On October 1, 2013, the Securities and Exchange Commission (SEC) and U.S. Citizenship and Immigration Services (USCIS) published a joint investor alert (Joint Alert) regarding recent investment scams exploiting the EB-5 program. Separately, the SEC announced its second major enforcement action against a regional center for perpetrating a fraud on investors. The first such action against Intercontinental … Read moreQ&A on SEC and USCIS Joint Investor Alert Regarding EB-5 Fraud

FBI: Texas EB-5 Visa Regional Center a Ponzi Scheme to Defraud Mexican Investors

Texas based EB-5 visa regional center USA Now is under investigation by the FBI for suspicion of money laundering, wire fraud, the transportation of stolen property and operating as a scheme to defraud wealthy Mexican nationals of their investments.  Search warrants indicate that the FBI has been investigating the EB-5 regional center for over a … Read moreFBI: Texas EB-5 Visa Regional Center a Ponzi Scheme to Defraud Mexican Investors

Use of Broker-Dealers in EB-5 Offerings

From time-to time, the U.S. Securities and Exchange Commission decides to remind everyone about what is necessary to comply with a provision of the securities laws. A recent example of this occurred last week when the SEC announced a settlement (in the Matter of Ranieri Partners, LLC and Donald W. Phillips; File No. 15243; March 8, … Read moreUse of Broker-Dealers in EB-5 Offerings

Protecting the Integrity of the EB-5 Investment Market – Hotel Lawyers on EB-5 Issues

Last month, the EB-5 investment community was shocked by the SEC enforcement action against the Intercontinental Regional Center Trust of Chicago, alleging that the sale of $145 million of EB-5 investments intended to be used to fund a huge convention center and hotel complex near Chicago O’Hare Airport, was a complete fraud. This is an … Read moreProtecting the Integrity of the EB-5 Investment Market – Hotel Lawyers on EB-5 Issues

SEC Charges Private Equity Firm, Former Executive, and Consultant for Improperly Soliciting Investments

On March 11, 2013, the Securities and Exchange Commission announced charges against New York-based private equity firm Ranieri Partners, a former senior executive, and an unregistered broker who violated securities laws when soliciting more than $500 million in capital commitments for private funds managed by the firm. The federal securities laws require that an individual … Read moreSEC Charges Private Equity Firm, Former Executive, and Consultant for Improperly Soliciting Investments

Vermont Pulls Plug on EB-5 Project an Assisted Living Facility

A development company that hoped to build high-end assisted living facilities for retirees in Vermont has lost approval from the state’s EB-5 center. The company, DreamLife Retirement Resorts, LLC, with representatives in Quebec, Ontario, Vermont and Florida, hoped to build six well-appointed, 160-apartment unit projects. The plans for the assisted living facilities include spas, salons, libraries … Read moreVermont Pulls Plug on EB-5 Project an Assisted Living Facility

Foreign Citizens Making Big Investments in U.S. in Exchange for Green Cards

Sitting in their farmhouse in Ubly, Michigan, Rene and Judith Dekker were tired-eyed from rising before dawn to tend to their 1,200 dairy cows. Their two older kids were packing up for the drive back to college and their 16-year-old had homework. They look like any other family in rural Michigan, but they are Dutch … Read moreForeign Citizens Making Big Investments in U.S. in Exchange for Green Cards

How Does It Happen? Chicago Convention Center EB-5 Fraud

250 Investors Duped For More Than $145 million – A Chicago Convention Center IN THE JANAURY 2013 issue of EB5info.com, we ran an article titled, “SEC & USCIS Take Action to Stop EB-5 Visa Scheme Committing Fraud.” The article reviewed how the SEC and USCIS have coordinated to stop the activities of Anshoo Sethi and the … Read moreHow Does It Happen? Chicago Convention Center EB-5 Fraud

Chicago Convention Fraud Coverage from China

According to the 1 March 2013 report copied below, at least 60 of the investors in the Chicago Convention Center EB-5 project are from Guangzhou Province. According to the article, some of the largest Chinese migration agents in Guangzhou sold the Chicago Convention Center EB-5 project. “This reporter has learned that in selling this project in … Read moreChicago Convention Fraud Coverage from China