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Chinese investors launch lawsuit, claim LA project mired in troubles and halted for two years

EB-5 News

Date

Feb 26th, 2021

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Chinese EB-5 investors, who invested in what they thought would be a mixed-use project in downtown Los Angeles, have filed a lawsuit demanding their money back. They also claim USCIS has been issuing denials to their petitions since April 2020. The investors maintain the project stopped in January 2019 because of financial troubles, and that the developer owes over $100 million in unpaid contractor fees. The investors also claim the project deviated from the business plan they were given.

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