EB-5 News

East Asian investors accuse Chinese family of running EB-5 scam

Posted by GCBI Team on March 11, 2020

Investors from China, Japan, and Korea have accused Zhong “Johnson” Fang and his family of numerous fraud charges. Fang, who runs California Investment Regional Center, is alleged to be falsely advertising himself as a developer with over $300 million in...

Despite popular #imstaying movement, South Africans want a second passport for insurance

Posted by GCBI Team on March 11, 2020

The “I’m staying” movement has garnered a huge amount of support in South Africa. But in a land of economic unrest as well as security concerns, South Africans, even those who don’t want to leave, want the safety net a...

New bipartisan bill aims to provide transparency on immigration backlog & to eliminate it

Posted by GCBI Team on March 4, 2020

The Case Backlog and Transparency Act of 2020 has been introduced in Congress with a general mandate of improving the quality and efficiency of government immigration services. Bill H.R. 5971 proposes regular and prescribed quarterly, annual, and biennial reports that...

New regs will result in fewer NYC EB-5 projects — some believe with visa relief big developers can ‘adapt & thrive’

Posted by GCBI Team on March 4, 2020

The new regulations will change the EB-5 landscape, especially with regards to high-unemployment TEA’s; and New York city, in particular, will be adversely impacted. Some EB-5 stakeholders in the Big Apple believe that visa relief is the answer. Three possible...

Supreme Court appears to back SEC’s right to disgorgement — despite legal challenge of EB-5 fraudsters who misappropriated $27 million

Posted by GCBI Team on March 4, 2020

In news that will surely please investors, both conservative and liberal justices look like they will back the SEC’s power of disgorgement, despite a challenge by convicted EB-5 fraudsters, Charles Liu and Xin Wang. The couple argues that Congress never...

Florida developer can resume selling condo units despite dispute with EB-5 lender

Posted by GCBI Team on March 4, 2020

Verzasca Group’s boutique condo project in Bay Harbor Islands, despite having more assets then liabilities, filed for bankruptcy reorganisation last July. This was in response to a lender filing a lis pendens that prevented the developer from selling the remaining...

New Indian remittance tax to cost EB-5 investors 5% more

Posted by GCBI Team on March 4, 2020

As of April 1, 2020, a new Indian tax of 5% will be attached to money leaving the country. For Indian EB-5 applicants with a $900,000 Targeted Employment Area (TEA) project, this will mean an additional $45,000. Some advisors recommend...

What can you bring to an EB-5 consular interview?

Posted by GCBI Team on March 4, 2020

Immigration law firm Wolfsdorf Rosenthal offers some advice for petitioners about to undergo their EB5 consular visa interview. While acceptable items vary according to the consular location around the world, the following is commonly prohibited: backpacks, luggage or large bags;...

Infamous Jay Peak developer claims government had unauthorized access to his attorney communications

Posted by GCBI Team on March 4, 2020

Ariel Quiros, the man behind the Jay Peak scandal, the biggest fraud in EB-5 history, says the lawsuit from investors over his Vermont biomedical research EB5 project should be thrown out; he clams federal prosecutors, after seizing his laptop, gained...

Latest Visa Office EB-5 stats published; South American activity growing & second-biggest region after Asia

Posted by GCBI Team on February 26, 2020

EB-5 business plan writer Suzanne Lazicki has completed a comprehensive analysis of the latest immigrant investor processing. According to EB 5 visa stats in 2019, more EB-5 visas were issued to South America than any other region after Asia. Of...

  
Working

Please Login or Register