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Developers of Chicago tower project agree to pay $27.5 million to EB-5 investors

The EB-5 legal fight involving the 42-story Carillion Tower in Chicago looks to be finally ending. A group of investors sued in 2018; the developer later agreed to a settlement, and ostensibly acquired a loan to repay the investors — but the loan turned out to be a sham, even though the developers may have acted in good faith. The defendants have agreed to this latest judgment.

See the Law360 article (subscription required).

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