Our colleague Doug Hauer has launched a new Mintz blog about the federal EB-5 Immigrant Investor Program, EB-5 Financing Matters. Check it out for a comprehensive review of pending legislation to extend and reform the EB-5 Program. You will also find two posts discussing recent SEC actions involving the EB-5 Program: (1) a federal suit alleging that the defendants made fraudulent statements in soliciting EB-5 investors for an unprofitable oil company; and (2) an SEC enforcement action against two brokers that solicited investment for EB-5 projects in the United States without registering as securities brokers with the SEC.
The EB-5 Program, administered by the U.S. Citizenship and Immigration Services, offers foreign investors an opportunity to become permanent residents in the United States by making capital investments that create jobs in the U.S. In the coming weeks we will be working with Doug and other colleagues on a series of posts analyzing the interplay between the EB-5 Program and the securities laws.