Defrauded Chinese EB-5 investors can’t sue bank that held their capital

  • Written by GCBI Team Posted on September 25, 2020 | Updated on September 25, 2020 | 1 min read

The bank that held the capital of seven defrauded Chinese EB-5 investors was not responsible for monitoring the account for fraud, an Atlanta court has ruled.  Just because the bank held the investor capital, it did not have “any duty in tort or any fiduciary duty” to the investors and thus could not be liable.

Bloomberg Law article (subscription required)