Could USCIS make a good faith EB-5 investor decision even if fraud occurred in the regional center?
I am a good faith investor with a denied 829 and pending 290b. Invested in a regional center project that is up and running but the general partners did fraud by comingling multiple projects funds. Some investors in the same project are also suing the regional center of knowingly promoting the project after the general partners activities came into light to the regional center personals.
My question is, my project is up and running, I am an initial investor, forensic accountant proved that my fund was sustained and jobs were created as project is up and running.
Does USCIS make a justifiable decision for good faith investor and focus on investor sustainment of investment and job only? Not general partners actions or does it pass it to immigration court to make judgement?
In the past, the SEC has gotten involved and tried to salvage some investor petitions, but this is part of the overall risk inherent in the investment. It may be worth an attempt to remove the conditions but ultimately, the requirements are what they are.
Sadly, we have seen too many innocent investors whose funds were properly deployed, and the jobs created hurt by USCIS'' restrictive view that if some of the funds have been wrongly used, they take the position that the entire project is tainted. We think this is wrong but have seen USCIS consistently take this position because there is no relief for good faith investors - the only benefit in the 2019 regulations is one could refile and capture the original priority date but since those regulations were held unlawful, they were overturned. USCIS is appealing that decision so if USCIS succeeds, then you can start again and not lose your place in line if needed.