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How can an EB-5 regional center refuse to return the investment amount seven years after project completion?

The EB-5 regional center I invested in refuses to return the investment amount after the completion of 5 years + 2 years extension, a total of 7 years. This is on the pretext that the master loan has to be paid first and they are unable to refinance the project, hence cannot return the money back to secondary lenders, like the EB-5 investors. Is this a legally valid reason? What kind of action can we take?

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    Robert V Cornish Jr

    Securities Attorney
    Answered on

    You will need to speak with a securities litigation attorney to review your offering documents to ascertain your record inspection rights and rights of withdrawal from the project. It is impossible to answer such a question without knowing these terms.

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    Phuong Le

    Immigration Attorney
    Answered on

    You would need to review the offering and loan documents carefully. However, regardless of the loan term, if a project has no cash or is unable to refinance or sell (especially in this environment), repayment may be delayed due to circumstances out of their (short-term) control.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    You would need to have someone review the legal project documents you signed. Remember your money needed to be at risk at the time you filed.