EB-5 Financing

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Failure to Investigate Could Mean “Game-Set-and-Match” for EB-5 Investors: SEC Case against Brother-in-Law of Tennis Star Andre Agassi Shows Risk for Would-be Immigrant Investors

August 31, 2015 | Blog | By Douglas Hauer

On August 25, 2015, the U.S. Securities and Exchange Commission (SEC) filed a civil fraud suit against Lobsang Dargey, a Bellevue, Washington-based real estate developer and alleged fraudster, who also happens to be a brother-in-law of tennis star Andre Agassi.
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EB-5 Processing Times: Continued Delays with I-526, I-829 and I-924 Adjudications

August 6, 2015 | Blog | By Douglas Hauer

On August 3, 2015, United States Citizenship and Immigration Services (USCIS) published updated processing times for EB-5 immigration benefits. The news continues to be bleak.
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Inglorious Fraudsters: Unlawfully sourced funds can taint EB-5 investments and result in forfeiture actions

July 28, 2015 | Blog | By Douglas Hauer

Last month, the United States District Court in the Eastern District of Pennsylvania (Philadelphia) ordered a default judgment against an interest in a limited partnership connected with an EB-5 investment. 
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Filing EB-5 exemplar petitions before September 30, 2015: strategic considerations

July 24, 2015 | Blog | By Douglas Hauer

Change is on the EB-5 horizon. With the Regional Center Program nearing its expiration and recent legislative efforts coming from lawmakers, we may see some action by Congress or the Senate before the end of September.
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Potential FCPA landmines selling EB-5 deals abroad through intermediaries

July 21, 2015 | Blog | By Douglas Hauer

The Securities and Exchange Commission (“the Commission” or “SEC) recently published an overview of Foreign Corrupt Practices Act (“FCPA) enforcement actions. Since 2010, the SEC has had a specialized unit devoted to enforcement of the FCPA.
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Regulation S safe harbor in EB-5 offerings

July 15, 2015 | Blog | By Douglas Hauer

Recently, a question about Regulation S came to me from a team of very well regarded EB-5 regional center directors. I wanted to share this question with you, as well as our brief response.
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Recent SEC action against Luca Funds highlights perils of EB-5 deals for investors

July 8, 2015 | Blog | By Joel Rothman, Douglas Hauer

The Securities and Exchange Commission (“SEC”) appears to be stepping up enforcement in the EB-5 area. On July 6, 2015, the SEC filed a complaint and a separate cease and desist order against the perpetrators of a Ponzi scheme targeting EB-5 investors.
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Sunlight is the best disinfectant: SEC charges oil company for fraud on EB-5 investors

July 8, 2015 | Blog | By Douglas Hauer

In a recent action, SEC v. Luca International Group, LLC et al. ("SEC v. Luca"), the Securities and Exchange Commission (SEC) has charged a California-based oil and gas company and its CEO with violations of securities laws in connection with a $68 million Ponzi scheme and affinity fraud.
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Uncertainty overshadows changes to EB-5 program

July 6, 2015 | Blog | By Douglas Hauer

Check out the latest on prospects for legislative changes to the EB-5 Program.
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SEC charges "Which EB-5" owners with securities law violations

June 25, 2015 | Blog | By Douglas Hauer, Steve Ganis

On June 23, 2015, the Securities and Exchange Commission (SEC) issued a press release in connection with charging two firms that unlawfully brokered more than $79 million of EB-5 investments to more than 150 investors seeking U.S. residency under the EB-5 Investor Visa Program.
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