Former attorneys for the alleged mastermind of a multi-million dollar fraud scheme in northern Vermont say a lawsuit accusing them of allowing their client to bilk hundred of investors is driven by “avarice.” Jay Peak receiver Michael Goldb...
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Quiros’ ex-legal team slams Jay Peak receiver for ‘avarice’ in $260M suit
‘Parole’ Bill Doubles Down on Cash-for-Visas Racket
Just in time for Christmas, Congress is cooking up a bill to “parole in” 73,000 foreign nationals awaiting green cards. The legislation — nullifying or watering down new regulations designed to rein in America’s scandal-plagued EB-5 investo...
EB-5 Visas for $900K Investment Is Still Crazy Good Deal, Here’s Why…
The EB-5 visa is highly sought after for a number of reasons including: It’s a family-sized package of green cards. The rate for EB-5 visas may have increased to $900,000, but it includes green cards for the principal investor, their spo...
House passes bill opening backdoor immigration route for wealthy chinese
Rep. David Cicilline (D-RI) portrayed the bill as a boost to trade between the United States and Portugal. But the bill allows wealthy Chinese to get into the United States after first buying Portuguese citizenship. The House quietly passed...
Jay Peak receiver claims pre-Quiros owners aided and abetted fraud, wants attorneys deposed
Receiver Michael Goldberg is seeking to depose the attorneys of Mont Saint-Sauveur International; Goldberg claims MSSI illegally accepted $18 million in EB-5 investor funds from buyer Ariel Quiros, the man behind the biggest EB-5 fraud ever. G...
Mandamus Lawsuits on Delayed EB-5 Adjudications
Writ of mandamus lawsuits against U.S. Citizenship and Immigration Services (“USCIS”) are en vogue, and for good reason: as of December 2, 2019, the estimated time range to process a Form I-526 petition has skyrocketed from 31.5 months to 52 m...
EB5 Industry 2019 - Where Are We Now?
Saul Ewing Arnstein and Lehr LLP has been extremely active in navigating the current status of the EB5 industry and determining what courses of action need to be taken given the existence of the new regulations ("New Regulations" or "REGS"), t...
Lawsuit seeks to halt new EB-5 regulations
The lawsuit argues the increased amounts will deter foreign investors from the program In a case with far-reaching implications, an EB-5 regional center claims the new rules that are designed to clamp down on abuse violate the Constitution...
Lucky Dragon’s foreign investors demand refund
The Lucky Dragon located at 300 W. Sahara Avenue in Las Vegas on Tuesday, Sept. 18, 2018. Richard Brian Las Vegas Review-Journal Lucky Dragon, which closed last year and filed for bankruptcy, is expected to reopen fully by the fall under a new...
Defendant Blasts Akerman Receiver’s $260M Legal Malpractice Lawsuit
Jay Peak, Vermont ski resort Levine Kellogg is facing off against Gunster in the lawsuit tied to fraud at Vermont's Jay Peak ski resort. A law firm facing a legal malpractice claim tied to EB-5 visa fraud at a Vermont ski resort accused ...
Glenn Straub loses appeal on Palm House sale
Glenn Straub and the Palm House Hotel The creditors of the Palm Beach condo-hotel project that was once at the center of South Florida’s largest EB-5 fraud case may be one step closer to getting paid. A federal appeals court denied an ap...
Can the S.E.C. Force Repayment of Ill-Gotten Gains?
The defendants in Liu vs. S.E.C., which the Supreme Court will review, diverted $26 million they raised from the investors. The regulator will argue before the Supreme Court that judges can order a defendant to disgorge money obtained by fr...
EB-5 Targeted Employment Area Designation Changes
In addition to raising the EB-5 Program minimum investment amounts, the new EB-5 Modernization Regulation that went into effect on November 21, 2019, changed how targeted employment areas are designated. Here is a very basic overview of how...
A federal program to boost struggling businesses is a backfiring embarrassment
he Anacostia neighborhood in Washington, D.C., as seen on Dec.7. While some communities are benefiting from a federal contracting program that tries to level the playing field by giving under-served communities a chance to procure federal work...
EVEN Hotel Breaks Ground For Second Georgia Location
The property is located within walking distance from Cobb Galleria Convention Center, Cobb Energy Performing Arts Center, Cumberland Mall, and adjacent to SunTrust Park and the Battery Atlanta entertainment district. The new-build hotel con...