News
Freedom of Information Act
Many Regional Centers (“RC”) are receiving notices from USCIS that someone has filed a Freedom of Information Act request for a copy of the RC’s I-924A annual reports. Someone is on a fishing expedition for information. Some are from an attorney in Florida. IIUSA has also filed a FOIA request...
DHS Proposed Changes to the EB-5 Program
Released today is a letter from DHS Secretary Jeh Johnson dated April 27, 2015, to Senate Judiciary Committee Chairman Charles Grassley about the extension of the regional center EB-5 statute, which is set to expire September 30. He suggested a number of statutory changes, most notably: • Increase the EB-5 minimum...
TEA Seminar
The excellent EB-5 economist, Michael Kester, will hold a webinar about TEAs on May 5th. Michael, at Impact DataSource, runs the popular website that allows one to research TEA by census tract. To register for this webinar, go to http://www.impactdatasource.com/teawebinar.
China Quota Retrogress in May
China Quota Retrogress in May The Department of State May 2015 visa bulletin was released today. It contains a cutoff date of May 1, 2013, for the EB-5 China quota (not other countries). Attached is my memo explaining quota retrogression, which I have expanded to address a few questions I have...
SEC – Chicago
The verdict is in for the SEC’s civil action against A Chicago Convention Center, LCC (ACCC), Anshoo Sethi, and International Regional Center Trust of Chicago (IRCTC), in a fraudulent Chicago-based EB-5 venture. Sethi set up a bogus regional center project and sold $145 million in securities and collected $11 million in...