3 Signs of Fraud in the EB-5 Process
Many immigrants working through the EB-5 system want to move to the United States as quickly as possible and are willing to make a substantial financial investment. Sadly, this eagerness can sometimes lead to cases of fraud that result in the theft of thousands of dollars of immigrant investor money. There are some signs a person may want to look out for if they are considering the EB-5 program.
If you want to get through the immigration process quickly and become a U.S. permanent resident, the EB-5 program may be right for you. For more information regarding your options as a prospective EB-5 investor, contact the EB-5 visa attorneys of White & Associates by calling 818-730-3540 today.
Warning Signs
It is regrettable that there are persons or companies who would seek to take advantage of those entrepreneurs who are attempting to invest in American industry and job creation. But it is an unfortunate reality that must be considered. The following are some possible warning signs that you are being defrauded.
#1: Persistent Lack of Records
A business owner should always be able to provide records or information about their business. In some cases, an investor may want to know what kinds of sales a business is achieving to see whether it is strong enough to create the necessary jobs for the EB-5 program. If a business owner cannot provide this information, they may be trying to defraud the investor.
#2: No Proof of Facilities
If a person does not actually visit the area they are providing an investment to, they may have to take a business owner on their word. However, a business may ultimately be a sham, fronting fraudulent schemes for the owner. An investor may need to verify the legitimacy of a business and its physical occupancy of commercial or industrial space.
#3: If It Sounds Too Good to Be True…
The old saying goes that if it sounds too good to be true, it must be. This may not always be the case, but an investor needs to be especially skeptical of a business owner if their investment opportunity sounds unrealistically strong. Jobs do not grow overnight and anyone who claims that they will appear immediately might be trying to defraud an investor.
Contact Us
If you are considering the EB-5 program as a residency option for your immigration plan, we may be able to help you with your application and with your legal concerns. To learn more about the risks and obligations involved in this visa program, contact the EB-5 visa program lawyers of White & Associates at 818-730-3540 today.
