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What should I do to request a refund for my EB-5 investment?

I withdrew my pending I-526 petition and requested my investment to be returned. However, it has been more than five years and I still haven’t gotten my money back. What should I do now?

Answers

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    BoBi Ahn

    Immigration Attorney
    Answered on

    This should be clearly detailed in the terms of the offering document (i.e., private placement memorandum) as well as something that should've been explained to you before you made the investment. Seek counsel from a securities attorney.

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    Lynne Feldman

    Immigration Attorney
    Answered on

    Get a lawyer in that state and review the documents you signed with the project to see if you have a basis for litigation.

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    Dale Schwartz

    Immigration Attorney
    Answered on

    Do the documents you signed say you can get a refund if you withdrew your case?

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    Belma Chinchoy

    Immigration Attorney
    Answered on

    Hard to tell on these facts (did you follow the process proscribed in the sub docs? Is the RC still in business, etc.), but you will need to hire an attorney, possibly a securities attorney.

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    Sally Amirghahari

    Immigration Attorney
    Answered on

    You should hire an attorney to assist you in collecting your investment legally pursuant to your partnership. This should not have taken five years for return of your money. We have done many of the same cases and got our clients' investment funds in few months.

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    Russell C Weigel, III

    Securities Attorney
    Answered on

    You should have your situation reviewed by a securities litigation attorney.

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    Julia Roussinova

    Immigration Attorney
    Answered on

    You need to review your EB-5 project's offering documentation regarding a procedure how to get back your EB-5 capital in the event you withdraw your approved I-526 petition. You may want to have an attorney help you work with a regional center to get your funds back.

  • Avatar

    Marko Issever

    EB-5 Broker Dealer
    Answered on

    Whether or not you could get a refund simply by withdrawing your pending I-526 application must have been explained to you in detail in the private placement memorandum. You or your attorney will need to read and understand that. If you were promised an I-526 rejection guarantee, that would not have typically covered you for an I-526 petition that is withdrawn voluntarily. Before you withdrew your I-526 petition, did you discuss with the regional center whether they would be willing to refund you your investment? Either case, you should retain a competent immigration and/or securities litigation attorney to represent you in this case.

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    Hassan Elkhalil

    Immigration Attorney
    Answered on

    Most EB-5 investments are not refundable. You are buying shares or membership interests! You may sell your shares or membership interest. You may want to consult with a lawyer to examine the documents you signed to determine the best way to receive your money back.

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    Salvatore Picataggio

    Immigration Attorney
    Answered on

    That is a matter of the agreed-upon terms between you and the regional center/new commercial enterprise. Check your PPM, operating or partnership agreement, and other offering documents you signed when you made the investment. If you need help reviewing, an attorney can assist.

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    Charles Foster

    Immigration Attorney
    Answered on

    In order to obtain a refund of your investment in a project, which was the basis of your initial EB-5 petition on Form I-526, which you have now withdrawn, first and foremost, you would have the terms and conditions of your investment normally set forth in the private placement memorandum. t may well be that you're entitled to a return of your investment upon withdrawing your petition. Or you may not be able to obtain the return until other investors in the project have, or are in a position to obtain a refund of their investments. If all else fails, you'll have to bring a lawsuit, depending upon the rights that you may have under the agreements and conditions of your initial investment.

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    A Olusanjo Omoniyi

    Immigration Attorney
    Answered on

    That's an awfully a long time. You should employ an attorney to assist in recovering your money. Even a lawsuit shouldn't be ruled out in your case.

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