March 1 2013

SEC Regional Center Fraud Investigation and SEC Compliance

The SEC has filed charges against and has frozen the assets of the Intercontinental Regional Center Trust of Chicago, LLC (“IRCTC”).  The Chicago Tribune ran a long story on this matter. There has been, and will be, more press coverage about this case in the U.S. and China. IRCTC raised more than...

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February 5 2013

EB-5 News

Canadian competition again? There is a rumor that Canada may again open its popular investor immigration program, creating competition with the U.S. EB-5 program. There was a backlog of about 26,000 applicants for the Canadian program when it was closed in the middle of last year. The Quebec program may open...

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February 2 2013

Breaking News — Senator Leahy Bill

Senator Leahy (D-Vt.), Chairman of the Senate Judiciary Committee, has been a strong supporter of the EB-5 visa program. He is circulating a draft bill making major revisions to this program. I am very pleased to see that it contains a concept that I developed and crafted when I was...

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February 1 2013

EB-5 Regional Center Due Diligence

In light of the SEC fraud complaint against the Intercontinental Regional Center Trust of Chicago (IRCTC) and its owner, people are asking me how to evaluate a regional center (RC) and conduct due diligence. This consists of two types of analysis. The first type concerns the economic risk of inadequate...

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January 29 2013

Q & A

Q: If a regional center’s designation by USCIS only includes the economic model IMPLAN, must the regional center ask USCIS to amend its designation if the regional center wishes to use RIMS II on its next project? A: USCIS’s March 2011 PowerPoint and its executive summary of the January 2012 EB-5 stakeholder’s meeting...

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