Construction stops on California residential and retail EB-5 project hit with bankruptcy and lawsuits

  • Written by GCBI Team Posted on October 16, 2020 | Updated on October 16, 2020 | 1 min read

A well-located California EB-5 project with 148 residential units and 54,000 square feet of retail space is in danger of not being completed. The SEC claims the owners defrauded the investors, and ran a regional center without disclosing their ownership interest in the project. $40 million in EB-5 capital was collected. One of the owners has reportedly fled the U.S. and changed her name.

Read The Mercury News story