Month: December 2014

February 19, 2015 marks the beginning of the Chinese New Year. This will be the Year of the Goat, an animal known for its determination, elegance and good nature. The goat is also known to worry too much and while others impose on it, it is stronger than it seems and prevails in harsh conditions. … Read moreEB-5 Predictions for 2015 the Year of the Goat

On December 5, 2014 USCIS held their EB-5 Stakeholder’s Meeting in Washington, DC. This was the first stakeholder’s meeting after President Obama’s Nov. 20 speech relating to his Executive Order. Interestingly, although the USCIS EB-5 Program Chief Nicholas Colucci stated that the Executive Order would have “no direct impact” to the EB-5 Program, at the same time … Read moreIssues Raised From December USCIS EB-5 Stakeholder’s Meeting

According to sources at the AP the Director of the U.S. Citizenship and Immigration Services, which overseas the EB-5 Immigrant Investor visa program, Alejandro Mayorkas is under investigation by Homeland Security’s Inspector General Office for his role in helping secure a visa for a Chinese executive and along with other officials at USCIS may have … Read moreUSCIS Director Mayorkas under investigation for role in EB-5 visa approval

On October 1, 2013, the Securities and Exchange Commission (SEC) and U.S. Citizenship and Immigration Services (USCIS) published a joint investor alert (Joint Alert) regarding recent investment scams exploiting the EB-5 program. Separately, the SEC announced its second major enforcement action against a regional center for perpetrating a fraud on investors. The first such action against Intercontinental … Read moreQ&A on SEC and USCIS Joint Investor Alert Regarding EB-5 Fraud

Texas based EB-5 visa regional center USA Now is under investigation by the FBI for suspicion of money laundering, wire fraud, the transportation of stolen property and operating as a scheme to defraud wealthy Mexican nationals of their investments.  Search warrants indicate that the FBI has been investigating the EB-5 regional center for over a … Read moreFBI: Texas EB-5 Visa Regional Center a Ponzi Scheme to Defraud Mexican Investors

From time-to time, the U.S. Securities and Exchange Commission decides to remind everyone about what is necessary to comply with a provision of the securities laws. A recent example of this occurred last week when the SEC announced a settlement (in the Matter of Ranieri Partners, LLC and Donald W. Phillips; File No. 15243; March 8, … Read moreUse of Broker-Dealers in EB-5 Offerings

Last month, the EB-5 investment community was shocked by the SEC enforcement action against the Intercontinental Regional Center Trust of Chicago, alleging that the sale of $145 million of EB-5 investments intended to be used to fund a huge convention center and hotel complex near Chicago O’Hare Airport, was a complete fraud. This is an … Read moreProtecting the Integrity of the EB-5 Investment Market – Hotel Lawyers on EB-5 Issues

Last issue we reported on the motion filed on behalf of investors of the EB-5 Chicago Center Project. The one investor named was Dong Mei Xu, but the motion includes the other investors that were subscribed to the IRCTC Chicago Convention Center project promoted by Anshoo Sethi that was recently the subject of an SEC … Read moreSEC Opposes Chicago Center Lawsuit

On March 11, 2013, the Securities and Exchange Commission announced charges against New York-based private equity firm Ranieri Partners, a former senior executive, and an unregistered broker who violated securities laws when soliciting more than $500 million in capital commitments for private funds managed by the firm. The federal securities laws require that an individual … Read moreSEC Charges Private Equity Firm, Former Executive, and Consultant for Improperly Soliciting Investments

A development company that hoped to build high-end assisted living facilities for retirees in Vermont has lost approval from the state’s EB-5 center. The company, DreamLife Retirement Resorts, LLC, with representatives in Quebec, Ontario, Vermont and Florida, hoped to build six well-appointed, 160-apartment unit projects. The plans for the assisted living facilities include spas, salons, libraries … Read moreVermont Pulls Plug on EB-5 Project an Assisted Living Facility

Sitting in their farmhouse in Ubly, Michigan, Rene and Judith Dekker were tired-eyed from rising before dawn to tend to their 1,200 dairy cows. Their two older kids were packing up for the drive back to college and their 16-year-old had homework. They look like any other family in rural Michigan, but they are Dutch … Read moreForeign Citizens Making Big Investments in U.S. in Exchange for Green Cards

250 Investors Duped For More Than $145 million – A Chicago Convention Center IN THE JANAURY 2013 issue of EB5info.com, we ran an article titled, “SEC & USCIS Take Action to Stop EB-5 Visa Scheme Committing Fraud.” The article reviewed how the SEC and USCIS have coordinated to stop the activities of Anshoo Sethi and the … Read moreHow Does It Happen? Chicago Convention Center EB-5 Fraud

According to the 1 March 2013 report copied below, at least 60 of the investors in the Chicago Convention Center EB-5 project are from Guangzhou Province. According to the article, some of the largest Chinese migration agents in Guangzhou sold the Chicago Convention Center EB-5 project. “This reporter has learned that in selling this project in … Read moreChicago Convention Fraud Coverage from China