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Chinese EB-5 investors in Florida project settle claims with developer Mastroianni night before trial

21 Chinese investors in Florida's Harbourside Place project settled their $99.5 million fraud claims against developer Nicholas A. Mastroianni II. The investors accused Mastroianni of misleading them about the project's funding and converting their loans to equity, allowing him to repay a senior loan to his own company without repaying their EB-5 capital. The settlement terms are confidential. This resolution came after a $20 million settlement with another group of Chinese investors in the same investment project.

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