EB-5 News

Former Acting Director of USCIS: Make a direct EB-5 investment at 500k ‘until new regs come out’

Posted by GCBI Team on July 1, 2021

Immigration lawyer and former Acting Director of USCIS Robert Divine believes that direct EB-5 investors can invest at $500,000 until new legislation or regulations change the amount. Regarding speculation that such a change might be implemented retroactively, Divine expects such...

‘Until further notice’ USCIS will not accept new EB-5 regional center I-526 petitions during lapse

Posted by GCBI Team on July 1, 2021

The immigration service has issued an alert that it will reject the following forms received on or after July 1, 2021: I-526, Immigrant Petition by Alien Investor; I-924, Application for Regional Center Designation; and I-485, Application to Register Permanent Residence...

Former White House military aide and business partner sentenced to 8.5 years in prison for New Orleans EB-5 fraud

Posted by GCBI Team on July 1, 2021

Willian B. Hungerford, Jr., and Timothy O. Milbrath, a former White House military aide and former Air Force colonel, were each sentenced to 102 months in prison for defrauding 31 EB-5 investors of $18 million. Though the capital was supposed to be...

July Visa Bulletin: Vietnam makes record 717-day EB-5 advancement

Posted by GCBI Team on July 1, 2021

The Vietnam final action date advanced almost two years — the largest in the country’s EB-5 history since becoming backlogged. China moved forward 61 days. India remains “current.” See the July 2021 Visa Bulletin

Judge certifies class in $100-million lawsuit against mega-developer Mastroianni

Posted by GCBI Team on July 1, 2021

The judge rejected Mastroianni’s argument that the participation of some investors in a parallel state lawsuit disqualified class status.199 investors gave $99.5 million to the developer to build a mixed-use commercial project in Jupiter, Florida. While the investors received Green Cards,...

Court orders two California EB-5 fraudsters to disgorge $20.8 million, disallows claim of $7.5M in salaries

Posted by GCBI Team on July 1, 2021

A federal judge has ordered Charles Liu and Xin Wang to pay pack almost $21 million from the $26 million they fraudulently raised for a supposed Southern California cancer treatment center. While the judge did not include $5 million of supposed...

Jay Peak CEO Stenger claims aide for former Governor Shumlin could be EB-5 fraud ‘co-conspirator’

Posted by GCBI Team on July 1, 2021

A new filing by the indicted Stenger lists numerous people who could allegedly be “co-consipirators” in the massive AnC Bio Vermont fraud case. One of those listed, Alex MacLean, was the deputy chief of staff of former Vermont Governor Peter...

EB-5 to expire after June 30th – but bills still alive in Congress and reauthorization can still happen

Posted by GCBI Team on June 25, 2021

Despite a sense of urgency and a growing list of political supporters, the EB-5 reauthorization legislation, known as the EB–5 Reform and Integrity Act of 2021 did not pass on June 24 as a “hotlined” bill in Congress. And as...

The $500,000 EB-5 ruling: two top immigration lawyers answer questions, explain investor impact

Posted by GCBI Team on June 23, 2021

The breaking news of a judge ordering a return to $500,000 raises a host of questions. eb5Marketplace has engaged two accomplished immigration lawyers, Michael Harris and Rohit Kapuria, to answer our questions. What’s the decision based on? How soon does...

What Biden’s recent executive order means for EB-5 adjudications

Posted by GCBI Team on June 10, 2021

Biden’s February “Executive Order on Restoring Faith in Our Legal Immigration Systems…” affirms the USCIS deference policy in adjudicating EB-5 petitions, declares law firm Greenberg Traurig. Therefore, when a project has Exemplar approval, and USCIS is adjudicating an investor I-526...

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