Project would give investors green cards

A Guam hotel and shopping mall developer’s plan could allow as many as 700 foreigners and their dependents to reside in the United States through an investment-for-green-card program. Under the U.S. Citizenship and Immigration Services’ EB-5 investors’ visa program, a qualified foreigner who invests a minimum of $500,000 or $1 million — depending on an … Read moreProject would give investors green cards

February trial set in Bollen’s financial misconduct case

A February trial has been scheduled in the financial misconduct case against the man who once ran South Dakota’s investment-for-visa program. The American News reports that Joop Bollen’s trial is scheduled for Feb. 6-10. He has pleaded not guilty in the case. Bollen faces felony charges for allegedly diverting more than $1.2 million from an … Read moreFebruary trial set in Bollen’s financial misconduct case

Jay Peak Lawsuit Explores Fraudulent Transfer Theory

A new lawsuit in the Jay Peak saga uses a legal theory that plaintiffs counsel says is untested in Florida state court: If a financial institution touches money, even for a second, it must try to make sure it isn’t being used for fraud. Jonathan Feldman of Perlman, Bajandas, Yevoli and Albright in Miami filed … Read moreJay Peak Lawsuit Explores Fraudulent Transfer Theory

Grenada envisions no fallout from investor civil suit

The Grenada government says it doesn’t expect any fallout from the civil charges brought against an investor who acquired citizenship under the country’s Citizen By Investment (CBI) programme. Civil charges have been brought against Charles Liu by the Securities and Exchange Commission (SEC) in the US. The investor, who had committed to a multi-million dollar … Read moreGrenada envisions no fallout from investor civil suit

$421M project proposed for Tamuning

Bridge Capital LLC is proposing to develop a $421 million commercial facility, which includes twin towers with a total of 590 hotel rooms, at the former site of Guam Greyhound Raceway Park in Tamuning. Based on the company’s conceptual plans, the integrated facility complex will also feature an upscale 800,000-square-foot retail establishment and a leisure … Read more$421M project proposed for Tamuning

Patrick Murphy traded donations for favors, complaint alleges

A progressive blogger in Los Angeles is ratcheting up criticism against Florida Democratic U.S. Senate candidate Patrick Murphy over his ties to political donors who benefit from a visa program that Murphy has supported. Howie Klein, of the partisan “Down With Tyranny” blog, wrote Wednesday that he’d filed identical complaints with the U.S. Department of … Read morePatrick Murphy traded donations for favors, complaint alleges

Las Vegas chamber group hosts Congress at Capitol Hill event

Las Vegas-area business representatives are in Washington, D.C., this week, seeking congressional support for projects including an Interstate 11 link to Phoenix and federal funds for security on the Strip. A Las Vegas Metro Chamber of Commerce delegation of almost 50 business leaders, elected officials and advisers hosted a Tuesday reception dubbed Vegas Night on … Read moreLas Vegas chamber group hosts Congress at Capitol Hill event

Intersection: EB-5 Visas, State Legislative Races & Soccer

The Orlando City Soccer Club grabbed headlines when news broke that it’s luring foreign investors with green cards as a way to help build the new stadium in Orlando. Intersection talks to  Gonzalo Lopez Jordan, from the company that’s reaching out to foreign nationals who want a green card and have the cash to put … Read moreIntersection: EB-5 Visas, State Legislative Races & Soccer

Intersection: EB-5 Visas, State Legislative Races & Soccer

The Orlando City Soccer Club grabbed headlines when news broke that it’s luring foreign investors with green cards as a way to help build the new stadium in Orlando. Intersection talks to  Gonzalo Lopez Jordan, from the company that’s reaching out to foreign nationals who want a green card and have the cash to put … Read moreIntersection: EB-5 Visas, State Legislative Races & Soccer

People in the News—June 6, 2016—Klasko Immigration Law Partners

Klasko Immigration Law Partners partner Daniel B. Lundy was elected co-chair of the Invest In the USA (IIUSA) banking committee. Lundy practices almost exclusively in the EB-5 immigration visa program area. He leads the regional center/developer team and the compliance team of the firm’s EB-5 practice. Lundy represents established regional centers, clients applying for regional … Read morePeople in the News—June 6, 2016—Klasko Immigration Law Partners

Tishman Speyer Plans Two More Center Office Towers In Long Island City

Tishman Speyer has filed plans for a two-tower commercial project in Long Island City, next to its 22-story office building known as Two Gotham Center. New building applications filed on Friday call for a million square feet of commercial and industrial space at 28-07 Jackson Avenue. The building will reach 27 stories and 396 feet … Read moreTishman Speyer Plans Two More Center Office Towers In Long Island City

Opinion: Measure government effectiveness

The unfortunate situation with the EB-5 program presents an opportunity to reflect on the state’s approach to economic development. Among other responsibilities, the State Auditor’s Office examines various programs to determine whether they achieve the goals established by the Legislature. That is, are we getting our money’s worth? To answer the question, we conduct performance … Read moreOpinion: Measure government effectiveness

Vermont Officials Intercede to Help EB-5 Investors at Jay, Burke

The embattled owner of Burke Mountain Resort and Jay Peak, Ariel Quiros Sr., continues to maintain he did not violate securities rules to the federal judge in U.S. District Court in Miami overseeing his securities fraud case. Meanwhile, the state of Vermont is working on behalf of hundreds of immigrant investors whose investments and green … Read moreVermont Officials Intercede to Help EB-5 Investors at Jay, Burke

Bollen pleads not guilty to EB-5 charges

The man who once ran South Dakota’s scandal-ridden investment-for-visa program has pleaded not guilty to felony charges stemming from a financial misconduct investigation. The Aberdeen American News reports that Joop Bollen wasn’t required to enter a plea at Friday’s arraignment. But his attorney, Reed Rasmussen, entered a not guilty plea and requested a jury trial. … Read moreBollen pleads not guilty to EB-5 charges

Statement from the Government of Grenada

Based on our ongoing cooperation agreement with Third Party countries, we have received information that Mr. Charles Liu, a citizen of Grenada under Section 11 of Grenada’s Citizen By Investment Act, and one of the significant investors in the proposed Mt. Hartman Project, has been charged with violating anti-fraud laws involving an EB-5 Immigrant Investor … Read moreStatement from the Government of Grenada

Senator Patrick Leahy On Criminal Justice Reform, EB-5s, The Supreme Court And More

Vermont Sen. Patrick Leahy has been pushing for criminal justice reform in Washington and here in Vermont. Speaking in Burlington last month, he said, “we have an over incarceration problem in this country.”  Sen. Leahy joins us – we’ll talk about criminal justice reform, plus the Supreme Court, the presidential race, FISA reforms, EB-5s and … Read moreSenator Patrick Leahy On Criminal Justice Reform, EB-5s, The Supreme Court And More

Patrick Leahy: ‘I Feel Betrayed’ By Jay Peak Developers

Vermont Sen. Patrick Leahy says recent federal fraud charges have shaken his confidence in what was once praised as the most successful EB-5 project in Vermont. Leahy has long supported the EB-5 program, which allows foreign investors to gain legal residency after investing at least $500,000 in U.S. development projects. Now Leahy says Jay Peak … Read morePatrick Leahy: ‘I Feel Betrayed’ By Jay Peak Developers

Foreign Investment Comes to Rural Ski Areas

Mount Snow, in West Dover, Vermont, announced last week that its $52 million EB-5-funded business plan to upgrade snowmaking and build a new lodge got a federal green light. The funds will be used to complete the resort’s West Lake snowmaking project, which is expected to increase water storage capacity sixfold, and to build the … Read moreForeign Investment Comes to Rural Ski Areas

SEC: Quiros Potentially Liable For $191.8 Million in ‘ILL-GOTTEN GAINS’

The Securities and Exchange Commission told a federal court judge on Friday that there is sufficient evidence to show Jay Peak owner Ariel Quiros violated securities laws, and there is a reasonable likelihood he will re-offend if he isn’t stopped by the court. Quiros and his business partner, Bill Stenger, have been accused of misappropriating … Read moreSEC: Quiros Potentially Liable For $191.8 Million in ‘ILL-GOTTEN GAINS’

Peak Resorts, Inc. (NASDAQ:SKIS) increased 5.14% on project approval

On May 25, Peak Resorts, Inc. (NASDAQ:SKIS)announced that the United States Citizenship and Immigration Services (USCIS) approved the company’s Mount Snow EB-5 program. The related $52 million in funds raised from investors for the Mount Snow development projects will be released from escrow immediately following the approval of the first I-526 Petition submitted by an … Read morePeak Resorts, Inc. (NASDAQ:SKIS) increased 5.14% on project approval

Dunne, Galbraith, Minter Want To Restore Vermonters’ Faith In Government

It’s been six years since Democrats swept to power in Montpelier, but they’re facing some unlikely critics as they try to retain it. And the Democratic gubernatorial candidates seeking to replace one of their own say Vermonters have lost faith in government under one-party rule. At a Statehouse press conference earlier this month, Democratic candidate … Read moreDunne, Galbraith, Minter Want To Restore Vermonters’ Faith In Government

Peak Resorts announced Mount Snow EB-5 project approval

Peak Resorts, Inc. (NASDAQ:SKIS), a leading owner and operator of high-quality, individually branded ski resorts in the United States, announced that the United States Citizenship and Immigration Services (USCIS) approved the company’s Mount Snow EB-5 program.  The related $52 million in funds raised from investors for the Mount Snow development projects will be released from … Read morePeak Resorts announced Mount Snow EB-5 project approval

Mount Snow can move forward with its EB-5 project

Mount Snow CEO Dick Deutsch’s long months of waiting are over. The resort’s EB-5 project has been approved, after two years, by the U.S. Citizenship and Immigration Services. The approval puts Deutsch one step closer to accessing the $52 million he raised from foreign investors for infrastructure projects at Mount Snow, a ski resort in … Read moreMount Snow can move forward with its EB-5 project

State: SEC Receiver must maintain water system at Jay Peak

For 50 years, second homeowners at a Jay Peak Resort subdivision have had access to free water, but that perk will likely be another casualty of the EB-5 scandal. Michael Goldberg, the court-appointed Securities and Exchange Commission receiver who is running Jay Peak Resort, told 30 homeowners last week that the resort could no longer … Read moreState: SEC Receiver must maintain water system at Jay Peak

Why Peak Resorts Inc (NASDAQ:SKIS) got Upgraded?

Peak Resorts Inc (NASDAQ:SKIS) received a stock rating upgrade from Macquarie on May-26-16. In a note to investors, the firm issued an Outperform rating. The analysts previously had an Underperform rating on the stock. Analysts have a consensus target price of $5.55 in the 12-month period. The price objective is 29.67% higher than the recent … Read moreWhy Peak Resorts Inc (NASDAQ:SKIS) got Upgraded?

Peak Resorts’ EB-5 funding approval sends stock up 27 percent

Ski resort operator Peak Resorts, which owns the Hidden Valley Ski Area in Wildwood, announced it raised $52 million from EB-5 investors for upgrades to its Vermont resort.  Wednesday’s announcement sent Wildwood-based Peak Resorts’ stock up 27 percent Thursday, closing at $4.28 a share, compared with Wednesday’s closing price of $3.37. The United States Citizenship … Read morePeak Resorts’ EB-5 funding approval sends stock up 27 percent

Aemetis – Changes Bring More Potential Upside

AMTX is a producer of ethanol in California and biodiesel in India. AMTX is still struggling to become profitable and has considerable debt. AMTX has promising prospects in the form of higher biodiesel output and prices and enhanced ethanol revenue. Its recent acquisition of Edeniq creates the potential to increase earnings at its ethanol plant … Read moreAemetis – Changes Bring More Potential Upside

Real Hospitality Taps Joseph Yi as Chief Investment Officer

Real Hospitality Group (RHG) has added Joseph Yi to its executive team as chief investment officer. Ben Seidel, president and CEO, noted the move represents a major strategic initiative, embracing the opportunity to cultivate relationships at a deeper level with ownership, asset managers and investment groups. He added, “With his expertise in real estate investment, … Read moreReal Hospitality Taps Joseph Yi as Chief Investment Officer

How do Clinton and Trump differ on immigration?

As we approach the 2016 presidential elections, the presumptive Republican nominee, Donald Trump, has been outspoken on the issue of immigration, making it one of the cornerstones of his campaign. Meanwhile the leading Democratic contender Hillary Clinton, has expressed strong views on Comprehensive Immigration Reform but otherwise has not made immigration a top policy priority … Read moreHow do Clinton and Trump differ on immigration?

Carpenter addresses Metcalfe fiscal court about spec building, local economy

Prior to a groundbreaking for the new spec building at the Metcalfe County South Industrial Park on Tuesday, Maureen Carpenter with the Bowling Green Area Chamber of Commerce spoke to members of the Metcalfe Fiscal Court about the project. Work for the construction site has already begun and the building will be delivered in early … Read moreCarpenter addresses Metcalfe fiscal court about spec building, local economy