The Carillon Tower project in Chicago, which was never built, resulted in a 2020 court settlement to repay EB-5 investors. In 2021, the attorney for the developers assured the court that a loan had been procured, but the loan turned out to be illegitimate and the investors were never paid. A federal judge says that the developer's attorney, Daniel G. Hildebrand, "buried his head in the sand" despite many red flags and chose not to confirm the legitimacy of the loan.
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