A new draft EB-5 bill was introduced on September 12, 2016 by the Chairman and ranking member of the House Judiciary Committee. Starting on page 59, it contains certain helpful provisions for investors in EB-5 fraud cases such as Jay Peak. This bill has a long way to go before it becomes law and may also be substantially changed, but it provides us with some optimism. Please contact Congressmen and Congresswomen on the House Judiciary Committee and urge them to support this bill, and specifically Paragraph O of the Bill entitled “Treatment of Good Faith Investors Following Program Noncompliance.” We will continue to update investors on the progress of this Bill.
Click here to review the draft bill: https://judiciary.house.gov/wp-content/uploads/2016/09/GOODLA_053_xml.pdf