Steffani Russo

PNC, Fla. Hotel Developers Seek Exit From EB-5 Fraud Suit

PNC Bank and developers of a now-shuttered Miami Beach hotel asked a judge on Wednesday to let them out of a fraud suit by Chinese investors, arguing the investors had failed to tie the bank and the hotel to an alleged scheme to embezzle their EB-5 visa investment money. In a telephone hearing before U.S.

June 17, 2020

Investors Say Hotel Developers Can’t Shake EB-5 Fraud Suit

Chinese investors claiming they were duped into sinking $500,000 apiece into a Florida hotel development project through the EB-5 visa program said the companies behind the project can’t shake their fraud suit. The group of investors told a Florida federal judge Thursday that their allegations against the developers, referred to as the Greystone entities after

February 7, 2020

Investors Say PNC Was ‘Intimately Involved’ In EB-5 Fraud

A group of Chinese investors asked a Florida federal judge on Wednesday not to let PNC Bank walk away from a lawsuit accusing it of being “intimately involved” in a fraud scheme that misappropriated the investors’ funds by hijacking the EB-5 visa program. PNC said in December that the suit is “woefully insufficient” in alleging

January 16, 2020

Developers Want Out Of EB-5 Fraud Claims Over Fla. Hotel

A group of companies behind a Miami hotel project urged a Florida federal judge Thursday to shield them from allegations that they helped scam Chinese investors and dashed their chances of winning a green card through the EB-5 visa program. The companies, referred to as the Greystone entities after the hotel project, claimed the investors’

January 2, 2020