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Legal Drama


Oct 17th, 2020

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Construction stops after California residential and retail EB-5 project hit with bankruptcy and lawsuits

A California EB-5 project with 148 residential units and 54,000 square feet of retail space is in danger of not being completed. The SEC claims the owners defrauded the investors, and ran a regional center without disclosing their ownership interest in the project. $40 million in EB-5 capital was collected. One of the owners has reportedly fled the U.S. and changed her name.Read The Mercury News story

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