EB-5 News

IPO Chief addresses EB-5 industry: Congress wants a discounted investment level & looks to USCIS when drafting bills

Posted by EB5Admin on November 15, 2019

Sarah Kendall, Chief of the Immigrant Investor Program Office (IPO), addressed the EB-5 industry at the recent IIUSA forum. Her comments included: there is a congressional mandate for an investment “discount” for rural and high-unemployment areas; petitioners can make a...

Can an investor replace misappropriated funds? The AAO says no

Posted by EB5Admin on November 15, 2019

EB-5 expert Suzanne Lazicki speaks to the important question of whether an investor who is the victim of fraud can replace misappropriated capital himself to remain eligible for approval. In one case she cites, an investor offered to replace $185,000...

Congress to pass CR that will extend EB-5 to December 20

Posted by EB5Admin on November 15, 2019

The EB-5 regional center program was scheduled to expire on November 21, 2019. However, Congress is expected to pass a continuing resolution bill to keep the government running  — including the EB-5 program — till December 20, 2019. Despite Trump’s impeachment...

Nigerian businessman testifies how he lost his money to a serial regional center fraudster

Posted by EB5Admin on November 15, 2019

A Nigerian man, swindled by an American with a history of EB-5 fraud, took the witness stand in Lagos to detail how he was conned: from seeing the newspaper ad, to the hotel seminar, to chasing the fraudster down in...

Oppenheim’s EB-5 visa update: top users & wait times

Posted by EB5Admin on November 15, 2019

At the IIUSA EB-5 forum, Visa Control Office Chief Charles Oppenheim spoke about EB-5 Visa availability and recent trends: Dropping sharply from FY 2017, Chinese visa use has steadied the past two years; India overtook Vietnam as in FY 2019...

New EB-5 bill increases minimum investment by $150k, gives urban investments more support, offers investor privileges — and new costs

Posted by EB5Admin on November 8, 2019

On November 5, the “Immigrant Investor Program Relief Act” was introduced. As it proposes $1 million for TEA and just $1.1 million for non-TEA investments, it clearly aims to promote urban interests, counter to the Modernization Rule’s mandate to help...

54 Chinese investors defrauded in cancer treatment scam continue to go after law firm that prepared project documents

Posted by EB5Admin on November 8, 2019

The investors are appealing a trial court decision that protects the law firm that prepared the private offering memorandum for their investment. They maintain the firm either knew of or should have known that the supposed investment in the southern...

Senators Durbin & Leahy introduce bill to eliminate Green Card backlog

Posted by EB5Admin on October 25, 2019

An alternative to the Fairness for High Skilled Immigrants Act has been proposed. While the new RELIEF bill would similarly phase-out country caps, the key point of difference is it would also increase the number of Green Cards, eliminating the...

EB-5 predictions: less than half of projects will be TEA, Latin America is the next big player

Posted by EB5Admin on October 25, 2019

Immigration lawyer and Cornell Law professor Stephen Yale-Loehr expects that less than half of all EB-5 projects will be meet new TEA qualifications. And will new regs mean a shift in EB-5 investor demographics? Immigration attorney Julian Montero thinks so and...

Oil & gas exec, accused of running EB-5 “Ponzi” scheme, to pay $527,000 to SEC

Posted by EB5Admin on October 25, 2019

An official for San Francisco company Luca International Group has agreed to pay over half a million to the SEC after accusations of defrauding Chinese EB-5 investors in a $68 million “Ponzi-like” scheme. Since 2007, the investments, which were unregistered...

  
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