Attorney Roberto Villasante set to go to trial on behalf of eight foreign investors in EB-5 Immigrant Investor Program case against Raymond James Financial Services, Inc. and others after State court refuses defendants' request to stay action.
Attorney Roberto Villasante, founder of the Law Offices of Roberto Villasante, recently filed a complaint in the Circuit Court of the 11th Judicial Circuit in and for Miami-Dade County, FL (Complex Business Litigation Section, Case No. 16-17840) on behalf of eight foreign investors in an EB-5 Immigrant Investor Program. He also announced that any motion for leave to add additional parties must be filed no later than January 31, 2017.
The EB-5 Program provides a vehicle through which foreign investors can invest in certain types of qualified United States companies, earn a return on their investment, and ultimately obtain their permanent residency (green cards). To qualify for an EB-5 visa, a foreign applicant must invest $500,000, of which, according to court documents, all the plaintiffs in the case did in a Jay Peak Limited Partnership project, or $1 million in a new commercial enterprise approved by the U.S. Citizenship and Immigration Service. Once the applicant has invested, he or she may apply for a conditional green card, which is valid for two years. According to court documents, the Jay Peak project sold securities under the EB-5 Program to the plaintiffs.
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