How can EB-5 investors with denied I-829s avoid deportation when the project is allegedly involved in fraud? - EB5Investors.com

How can EB-5 investors with denied I-829s avoid deportation when the project is allegedly involved in fraud?

I have been in the USA for almost 8 years as an EB-5 conditional permanent resident. We received a notice of denial for our I-829 and it appears that the USCIS considered the investment as a failed project and brought some fraudulent allegations toward the project manager, who is our lawyer (SEC obtains final judgment against attorney for defrauding EB-5 investors.) This impacted at least 226 foreign investors. We know that we need to consult an attorney, and realize that EB-5 investments are risky (as a result of which we lost more than 80% of our investment). However, in the meantime, how can we prevent deportation, as none of the investors were involved in the project? What are the next steps for us?

Answers

Bernard P Wolfsdorf

Bernard P Wolfsdorf

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

If the investment was a fraud and the jobs not created, you have a problem. One option if you are put into removal proceedings is to apply for Cancellation of Removal for Permanent Residents under INA 240A(a). Another is to make a new investment, and a third is to explore other employment sponsorship options under EB-2/3 if employed.

Lynne Feldman

Lynne Feldman

Find an EB-5 Visa Lawyer: Immigration Attorney
Answered on

Consult an attorney about litigation and another about other immigration options for you if your conditional residence is denied.

Robert V Cornish Jr

Robert V Cornish Jr

Securities Attorneys
Answered on

There is a process within the new EB-5 legislation for dealing with a project that has been the subject of fraud within the EB-5 program from a petition standpoint. Whether the SEC proceeding against the attorney will be enough is open to question. It would be better for you if the Regional Center itself was a party to the SEC order in my opinion. But as to deportation, one solution may be (emphasis on "may" and I have not confirmed accuracy of what I have heard) to find an existing EB-5 project that will take you aboard without any additional capital being deployed on your part. As for your securities and related fraud claims, 8 years is a long time. Be aware that statutes of limitation may preclude you and others from seeking relief against some parties. You should not be penny wise and pound foolish in waiting for a group of these investors to coalesce at the expense of your potential recovery. Time is of the essence.

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