I invested directly in an EB-5 project in a TEA. My project developers did not do any development of the project; as a result, my I-829 has been denied. They are not returning my investment. What can I do to get them to respond? Who do I complain to?
Answers
Lynne Feldman
EB-5 Immigration attorneysYou have two issues – getting your money out and preserving your immigration status. The former may require litigation for the latter you likely need to look at redeployment options.
Natalia Morozova
EB-5 Immigration attorneysIt is unfortunate that you have found yourself in this situation. It sounds like you need an attorney who specializes in breaches of contract. You can also direct this attention to the following authorities:
- *USCIS EB-5 Fraud Tip Form*: Report suspected fraud or
misrepresentation by developers (e.g., failure to develop the project);
this could trigger an investigation but won't directly recover funds.
*SEC (Securities and Exchange Commission)*: File a complaint online at
sec.gov/complaint if the investment involved securities fraud (common in
EB-5); they pursue civil actions against developers.
- *State Securities Regulator*: Contact your state's securities division
(via NASAA.org) for local enforcement on unregistered or fraudulent
offerings.
- *Federal/State Courts*: Sue for breach of contract, fraud, or
fiduciary duty; join or start a class action with other investors for
leverage (e.g., in project bankruptcy). Consult an attorney immediately, as
statutes of limitations apply (often 2-6 years)
DISCLAIMER: the information found on this website is intended to be general information; it is not legal or financial advice. Specific legal or financial advice can only be given by a licensed professional with full knowledge of all the facts and circumstances of your particular situation. You should seek consultation with legal, immigration, and financial experts prior to participating in the EB-5 program. Posting a question on this website does not create an attorney-client relationship. All questions you post will be available to the public: do not include confidential information in your question.