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Florida bank & EB-5 hotel developer deny role in $21-million investor fraud

EB-5 News

Date

Jun 26th, 2020

Category

Fraud

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Jason Buback

Editor of Green Card By Investment

Green Card By Investment

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PNC Bank and Greystone entities deny any knowledge of wrongdoing in a case where the head of a regional center, Joseph Walsh, is accused by the SEC of defrauding investors of $21 million. The investors claim the bank helped Walsh avoid escrow requirements and create a fake escrow account to use their investment capital for personal use, such as a mansion and a yacht.Read the law360.com article (subscription required)

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