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Former EB -5 investor alleges regional center paid secret kickbacks to Chinese firm that sold ‘due diligence’ to investors

EB-5 News

Date

May 28th, 2020

Category

Fraud

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Jason Buback

Editor of Green Card By Investment

Green Card By Investment

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A former EB-5 investor, Zoe Ma, who helps Chinese investors research EB-5 projects, has amended her lawsuit against one of the biggest EB-5 regional centers, U.S. Immigration Fund. She claims USIF paid a Chinese migration agency a finder’s fee to have a “confidential and exclusive relationship”, with the condition to “not divert Foreign Investors to U.S. projects which would compete.” The migration agency was also being paid $12,000 by each investor for “due diligence” on EB-5 projects. Ma says that if the investors knew the migration agency had a secret deal with USIF, they would not have relied on the agency’s so-called due diligence.Read the Bisnow story

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