Judge fines developer of failed EB-5 project in Chicago $18,000 — and counting — for missing deadline to explain missing investor capital

  • Written by GCBI Team Posted on June 10, 2020 | Updated on June 10, 2020 | 1 min read

An Illinois judge, agreeing with investors who asked for sanctions, has fined a Chicago real estate developer $18,000 for failing to produce documents explaining the disappearance of $49.5 million of investor capital by what had been an extended deadline. The defendants will be fined $1,000 a day until they do so until June 26, the new deadline.

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