Let's talk

EB-5 investors allege Syracuse developer of payment default, shielding assets to avoid repayment

EB-5 News


Sep 26th, 2020





You have to be registered to leave a comment

EB-5 investors loaned $4 million in capital to a New York State hotel project that was finished in 2016. The loan was due last September but the developer failed to repay and asked for an extension. The investors claim the developer has purposely avoided repayment by moving assets to another company. The developer principals were convicted in 2018 of bid-rigging and bribery of New York State officials, in a different case.

See the syracuse.com story

Sign up for our EB-5 Weekly newsletter