We applied for an EB-5 visa in 2016. We were told we would be paid out in four years after project completion. We achieved permanent residency and the project we invested in is fully completed. When I enquire about the payout of the investment, I am told that it is the U.S. economy that is delaying payouts. Yet, on the website, they are still taking investments from people for this project and telling them they can get green cards. How is the government allowing this company, seven years later, to continue taking investments on already completed projects? Is there any action I can take against them?
Answers
Bernard P Wolfsdorf
Immigration attorneysIf the actions are consistent with your subscription agreement, then there is no basis but if there is fraud or misrepresentation then there may be a legal basis to take action.
Lynne Feldman
Immigration attorneysPerhaps have SEC investigate or sue them after re-reading the project documents with the litigator.
Robert V Cornish Jr
Securities AttorneysWhether there is action that you may be able to take will depend not only the facts, but also the offering documentation that you signed. In particular, the LP Agreement or LLC Agreement will bear disclosures as to what rights and remedies you surrendered in consideration for the investment, where action must be taken and what law applies. You may well have a situation where the project cannot pay you back because it is not marketable in its current state to anyone other than an investor involved in distressed assets. You will need to consult with a securities litigation attorney at the very least to review your deal documentation and marketing materials.
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