EB-5 News

Former Tibetan monk who became mega developer & defrauded 200 investors released from prison, must pay back $24 million

Posted by GCBI Team on February 12, 2020

The almost unbelievable story of a man who grew up in a poor and illiterate family in a remote Tibetan village has a new chapter. Developer Lobsang Dargey (who also married the sister of tennis legend Andre Agassi) is a...

Quiros, Stenger & Kelly contemplate joint vs. separate trials in biomedical fraud case

Posted by GCBI Team on February 12, 2020

The trio behind the Jay Peak story, the largest EB-5 fraud ever, are deciding whether they would prefer to be tried together in the AnC Bio Vermont case where more than $80 million EB-5 dollars were raised but the project...

Good questions to ask USCIS in their upcoming public meeting

Posted by GCBI Team on February 12, 2020

USCIS will hold a public engagement on March 13, 2020, to discuss its recent announcement about changing their policy in processing I-526 petitions. EB-5 pundit Suzanne Lazicki has compiled a lengthy list of some pressing questions. Here are a few:...

Japanese investor claims he was victim of fraud in a Hawaii EB-5 project

Posted by GCBI Team on February 12, 2020

A Japanese investor who put $1 million into the Hawaii Ocean Plaza project claims he was falsely guaranteed a Green Card and that he would either receive 5% ROI or an ownership interest in condo unit in the plaza. The...

How old are most approved regional centers?

Posted by GCBI Team on February 12, 2020

Building on a recent report, IIUSA has released another one detailing more regional center stats. Most approved regional centers currently have an age of 60-79 months; 8% have been active for more than 10 years. As of just December 2019,...

USCIS to hold public engagement meeting on EB-5

Posted by GCBI Team on February 6, 2020

In an effort to “enhance” public dialogue, the agency will have this engagement on March 13, 2020, to discuss program updates, including the recent change in processing from first-in, first-out, to what they term a “visa availability approach.” Participation may...

New USCIS I-526 processing policy: an immigration lawyer’s take

Posted by GCBI Team on February 6, 2020

Immigration lawyer Joseph Barnett discusses the new policy that favors EB-5 investors from countries where visas are immediately available. He says those investors with pending I-526 petitions may be processed faster than before. The policy may also prevent the “ageing...

The impact of delayed I-526 processing

Posted by GCBI Team on February 6, 2020

EB-5 expert Suzanne Lazicki says longer I-526 processing increases the chance of denial due to issues like project failure. And even for investors with successful projects, longer processing can affect the outcome; this can happen when USCIS makes unofficial policy...

Law firm says no basis for disqualification from representing two entities in EB-5 lawsuit

Posted by GCBI Team on February 6, 2020

Chinese investors in a lawsuit against Colorado Regional Center and Project Solaris, want the law firm representing both entities to be disqualified from doing so. The firm, Snell & Wilmer, argues there is no reason for this as both entities...

Harbourside Place developer Mastroianni faces new investor lawsuit

Posted by GCBI Team on February 6, 2020

Developer Nicholas Mastroianni II is facing yet another lawsuit over his Palm Beach waterfront EB5 project. The new suit alleges he wrongly converted investor capital into investments investors had no voting control of. This lawsuit is separate from, but similar...

  
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