How can we get our EB-5 money refund after a USCIS denial? - EB5Investors.com

How can we get our EB-5 money refund after a USCIS denial?

We invested $500,00 in 2018. Unfortunately, our I-526 was denied by USCIS in July 2023. We did not request an appeal and want to receive our money back. We have a contract with the NCE that should have lent the money to a JCE. According to this contract, they should have set up the project until 2019. As they submitted their REF to USCIS in 2023, they haven’t even provided the site license due to excuses like the COVID-19 pandemic. They have used the property as a motel during these 6 years and have advertised it for sale now.
They say they don’t have the money to pay us back. However, according to our contract, if our case is denied, NCE should pay the interest on the investment according to the current AFR until the whole amount is refunded. Also, the loan should be paid back to the Company on the 5th anniversary date of the Company’s full disbursement. We are approaching the 6th anniversary now.
On the other hand, the loan agreement clearly states that: “Each EB-5 investor will invest with lender 0f $ 500,000. The Lender shall initially hold such funds in an interest-bearing trust account for the benefit of each EB-5 Investor until USCIS has initially approved each EB-5 investor for temporary residency in the U.S. But, they have used our fund from day one of its submission in other projects without any approval from the USCIS. Is litigation possible? We want to change lawyers as ours has not been helpful.

Answers

Lynne Feldman

Lynne Feldman

Immigration Attorneys Directory
Answered on

You should definitely talk to a litigator to assess your situation and litigation prospects. You want one licensed in the Federal jurisdiction of the project ideally but other litigators can apply for admission as needed to another Federal district.

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