Mona Shah & Associates Exclusive Interview with EB-5 Investor for South Dakota Beef Packers Lawsuit
On March 2, 2012 Mona Shah & Associates has an exclusive interview with one of the EB-5 investors for the Northern Beef Packers (NBP) project.
The lawsuit was filed in the district court of South Dakota may threaten construction of NBP cattle processing facility and delay the I-829 filing for the job creation requirement.
NBP decided not to pay a $50,000-per-investor commission for recruiting EB-5 investors to the immigration agent Henry Global Consulting Group because it did not bring 100 investors as they promised. Only 70 investors were subscribed to the project.This is only one example to show the tension between the immigration agents and the project in their fee arrangement.
According to reports, Henry Global then persuaded several investors to sue the regional center, though that is against the investor’s own interest. One investor stated he has withdrawn the lawsuit individually, as he has found out the lawsuit will delay the job creation and damage the I-829 filing.
The lawsuit alleges that investors did not receive crucial facts about the project and were not included in key decisions as agreed upon.
This is just the latest in a long series of problems for the project. Almost six years after developers purchased the site, the project has been delayed continually by lawsuits, liens, and financial issues.
Mona Shah & Associates warns the investors to retain independent counsel before commencing any legal action with pending petitions in the EB-5 projects.