Vail Resorts, a ski industry behemoth that has been gobbling up local resorts in recent years, is not interested in Jay Peak. Other companies, however, have visited the Northeast Kingdom resort, a company official told a local town board durin...
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Alterra Mountain Co. eyes Jay Peak, Vail takes a pass
200 Asian investors victims of California’s largest EB-5 fraud ever?
A prominent Oakland businessman and two others are accused of committing a massive EB-5 fraud that could be the largest of its kind in state history. The trio took in $110 million from over 200 investors, and promised to create 2,000 jobs but ...
Chinese EB-5 investors sue developer of Colorado resort over ‘rigged’ loan, & claim they didn’t understand paperwork
13 Chinese investors who put their money into the $375 million Solaris project in Vail claim they’ve been defrauded and are suing the developer, Peter Knobel, and his Colorado regional center. The investors say the loan was “rigged” so that th...
A VTDigger Legal Fight Reveals That Key EB-5 Docs Are Missing
A protracted legal battle between a Vermont news outlet and the state attorney general has revealed gaps in the public record of how the state oversaw a fraudulent development project. According to a tech company hired to track down the mis...
McAllen hoping to enhance investment opportunities with Houston
The city of McAllen is partnering with the city of Houston in hopes of enhancing investment opportunities in the Rio Grande Valley. The McAllen EB-5 Regional Center Hosting a ceremony at the Cambria Hotel making the partnership official. Th...
Criminal case to delay state auditor EB-5 report
VT State Auditor of Accounts Doug Hoffer at his office in Montpelier in 2019. Vermont State Auditor Douglas Hoffer’s effort to find out who knew what when in state government related to the EB-5 scandal in the Northeast Kingdom appears to ...
Step One Of The EB-5 Process: Questions To Ask, Decisions To Make
Step one of the EB-5 process is often the most challenging for investors because it involves conducting a lot of tedious research and making a lot of careful decisions that carry varying degrees of risks. Despite this, the EB-5 Direct Inves...
Ex-White House aide, business partner convicted in post-Katrina foreign investment fraud case
Federal court jurors in New Orleans on Friday convicted a former top military aide to three U.S. presidents and his business partner on charges that they scammed $15 million out of foreign nationals who believed they could become permanent Ame...
Senator Rand Paul Seeks Congressional Action to Halt EB-5 Program Changes
As we previously discussed, United States Citizenship and Immigration Services (USCIS) proposed substantial changes to the EB-5 regulations on July 24, 2019. The “EB-5 Immigrant Investor Program Modernization Rule” is scheduled for implementat...
Palm House Hotel developer will use taxpayer money to pay legal bills
Robert Matthews is still awaiting sentencing after pleading guilty of defrauding foreign investors The developer of the Palm House Hotel, one of the largest EB-5 frauds in South Florida history, can no longer afford to pay his lawyers. R...
Vail showing no interest, but competitors eye Jay Peak as sale process presses on
The Tram Haus Lodge at Jay Peak Resort in June. Vail Resorts, a ski industry behemoth that has been gobbling up resorts in recent years, is not interested in Jay Peak, but a handful of other entities have visited the Northeast Kingdom reso...
New records: ‘On EB5 you need to recognize Leahy and only Leahy’
Sen. Patrick Leahy speaks at a news conference at the Ethan Allen Homestead in Burlington on Friday, June 21, 2019. Before Vermont’s EB-5 immigrant investor program became intertwined in the story of the state’s largest ever fraud, Sen. Pa...
EB-5 Version 3.0 Offers New Opportunities, Challenges
The U.S. Citizenship and Immigration Services recently published new EB-5 regulations that go into effect on Nov. 21, 2019, and the EB-5 industry is abuzz on how it will affect the real estate sector. And what the future of the EB-5 program is...
Extell lands $690M refinancing package for One Manhattan Square
One Manhattan Square Extell Development CEO Gary Barnett After closing over a hundred units at One Manhattan Square since March, Gary Barnett’s Extell Development has secured $690 million in new financing for the remainder of the 80-story,...
New EB-5 Regulations Carry Significant Consequence to the South Florida Market
L-R: Julian Montero, Roger Bernstein, Rohit Kapuria, and Ronald Fieldstone. As a result of a new agency rule, potential EB-5 investors will be scurrying to invest in the EB-5 program in rapid fashion, many of whom desire to invest in the So...