How can a regional center ignore providing withdrawal documentation? - EB5Investors.com

How can a regional center ignore providing withdrawal documentation?

I am an EB-5 investor who invested in 2016 through a regional center in an EB-5 project. However, I have withdrawn my green card application and am currently seeking the return of my investment capital. To review my legal options and rights, I recently sent a formal request to the regional center’s investor relations team requesting copies of the Operating Agreement, PPM, and Loan Agreement. It has been over two weeks, and they have completely ignored my emails—no documents, no updates, and not even a basic acknowledgment.

Is it normal for a regional center to withhold these foundational partnership documents from its investing members? Has anyone else encountered this severe lack of transparency? Also, should I hire a California litigation attorney who specializes in EB-5 fund recovery and regional center lawsuits?

Answers

Yuliya Veremiyenko-Campos

Yuliya Veremiyenko-Campos

EB-5 Immigration attorneys
Answered on

Operating Agreement, PPM, and Loan Agreement should have been included in your EB-5 petition. Your EB5 lawyer may have these documents as well.

Anthony Cummings

Anthony Cummings

Litigation Attorneys
Answered on

You have to follow up on your request for the documentation. You can’t make any decisions without the agreements. Have you considered other options to obtain the documents such as whether there is a website and whether you know any other investors that may have the documentation? Didn’t you receive the documents before you invested?
The Funds can be slow to respond, but two weeks is unacceptable. Can you contact them by telephone? Do you have investor relations contact information?

Lynne Feldman

Lynne Feldman

EB-5 Immigration attorneys
Answered on

Sounds like litigation may be your only option if they aren’t responding.

Robert V Cornish Jr

Robert V Cornish Jr

EB-5 Securities Attorneys
Answered on

You should hire a securities litigation attorney that can review your documents and give you a fair assessment of your withdrawal rights and other rights to which you may be entitled under those documents.

*Robert V. Cornish, Jr.**Managing Shareholder, Law Offices of Robert V.
Cornish, Jr., PC*

680 South Cache Street, Suite 100, P.O Box 12200 Jackson, WY 83001

rcornish@rcornishlaw.com | Office: (307) 264-0535 | Fax: (571) 290-6052

Washington DC Office: 1701 Pennsylvania Avenue, NW, Suite 200, Washington,
DC 20006

New York City Office: 32 Mercer Street, 5th Floor, New York, NY 10013

Miami Office: 1395 Brickell Avenue, 8th Floor, Miami,
FL 33131

California Office: 9800 Wilshire Boulevard, Beverly Hills, CA
90212

*

Tony W. Wong

EB-5 Immigration attorneys
Answered on

You’re an investor as a member of the LLC. You have the right to get the agreements from the regional center. You should read the terms of the subscription agreement and the operating agreement to determine how and when you can receive a return of your funds. Alternatively, you can contact your filing attorney to obtain the complete I-526 package, which should include the agreements.

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.