Money from a group of Chinese investors used to fund a beef processing plant in Aberdeen was not procured fraudulently and the state doesn’t have to repay it, according to a decision by the South Dakota Supreme Court.
The case involves the EB5 program and what started as Northern Beef Packers on the southwest side of town. That project eventually went bankrupt.
The Supreme Court upheld a lower court decision that granted a motion to dismiss by state agencies and others involved based on what’s legally called “sovereign immunity.”
Read more by clicking below image
