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Developer Tied To Kushner, Trump Sued For Alleged $99.5M EB-5 Fraud
News

Developer Tied To Kushner, Trump Sued For Alleged $99.5M EB-5 Fraud

... Mastroianni, in his role as developer,  converted their EB-5 investment from debt to unsecured equity and intentionally defaulted ... When he feared that regulators would crack down on EB-5 visa fraud, Mastroianni sought help from Trump lawyer Michael Cohen, ...

Oct 15, 2018
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Times Square in New York City
News

Inside The Wild Legal Battle Over EB-5 Fraud, Defamation And A $2.5B Times Square Project

... the SEC. She said she would expose "the grandfather of EB-5 fraud" in the process. "[USIF] just sued the wrong person, because ... won $14.7M for providing a tip in a successful EB-5 fraud investigation in Chicago. Ma — whose Hong Kong employer recently shut ...

Feb 19, 2019
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Failed Sethi development, Chicago, IL
News

Developer Pleads Guilty To $158M EB-5 Fraud Scheme

... documents to secure the financing from 290 investors. EB-5 financing grants foreign investors permanent residency if they invest ... fraud. As we learned at our hotel development and investment panel last month, the federal government is working to improve EB-5 ...

Jan 14, 2016
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Stricter EB-5 Rules Are Coming Soon. Advocates Hope Trump Kills Them.
News

Stricter EB-5 Rules Are Coming Soon. Advocates Hope Trump Kills Them.

... Exchange Commission and USCIS have all been busy fighting EB-5 fraud schemes for years, some of which have national security ... perhaps the leading congressional critic of the EB-5 program, pointed out examples of EB-5 fraud from all over the country: a $ ...

Jul 17, 2019
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Capitol
News

The Cloudy Future Of EB-5

... out of $99.5M, the latest in a string of EB-5 fraud lawsuits. In the mid-2010s, Lobsang Dargey, a Bellevue, Washington ... wheels. It had obtained $206M in EB-5 funding. Defenders of the program characterize the fraud cases as rare examples of bad apples ...

Dec 07, 2018
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A Rendering of the theater at TSX
News

EB-5 Fund USIF Sued For Racketeering By Representative Of Chinese Investors

... an email to Bisnow that new controls against fraud include site visits to EB-5-funded projects, expanded security checks on regional centers ...

Mar 01, 2019
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Capitol Hill
News

EB-5 Program To Be Extended Another Week As Reform Negotiations Continue

... with actionable solutions. According to Chicago-based Arnstein & Lehr EB-5 attorney Ronnie Fieldstone, the program will likely be reauthorized ... critics argue the program opens the door to rampant fraud.  Proposed reforms to the programs focus on raising the ...

Apr 28, 2017
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Congress Likely To Extend EB-5 Visa Program Again
News

EB-5 May Be Headed For Another Extension As Congress Delays Reform

It looks like the EB-5 visa program may be extended again ... interests are among the biggest hurdles in enacting EB-5 reform. Many of the largest U.S. ... developments rely on EB-5 funding, and while some lawmakers say the program is riddled with fraud and abuse, ...

Apr 06, 2017
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EB-5 Expiration Raises Big Questions for Developers
News

EB-5 Expiration Raises Big Questions for Developers

... struggling to determine what the future of the EB-5 program will be. EB-5 insiders believe special interest groups will make ... are also more susceptible to fraud. A short-term extension would discourage any attempts at EB-5 reforms. Any future legislation ...

Sep 30, 2015
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Congress Extends Popular EB-5 Program (But Not for Long)
News

Congress Extends Popular EB-5 Program (But Not for Long)

... some point, however, especially with major concerns surrounding potential EB-5 fraud. But proper due diligence should correct that, Aaron ... Ericson says they'll continue to educate EB-5 program participants on EB-5 financing to make sure projects get done, ...

Oct 01, 2015
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