IIUSA Statement on Federal Indictment of Mr. Anshoo Sethi

08.28.14 | Archived

As the association representing over 220 EB-5 Regional Centers across the country that account for over 95% of the capital flowing through the EB-5 Program, IIUSA welcomes and advocates for enforcement of all anti-fraud, securities and immigration laws.  Our position is clear:  efficient and effective enforcement of U.S. securities laws is as essential for the EB-5 program as it is for any investment vehicle. In 2013, IIUSA filed an amicus brief supporting the SEC action to stop the Intercontinental Regional Center Trust of Chicago, et al (all nonmembers of IIUSA) from making misleading claims about investment opportunities.

The efficacy of the U.S. justice system is one of the primary reasons the U.S. is the top destination for foreign direct investment globally.  Proper oversight, transparency, and compliance with all applicable laws and regulations are critical to maintain the confidence of all stakeholders and ensure that the EB-5 program continues bring much needed-capital and U.S. job creation to local communities. A comprehensive peer-reviewed economic study found that during fiscal year 2012, investments made through the EB-5 program contributed $3.39 billion to U.S. GDP and supported over 42,000 U.S. jobs – at no cost to taxpayers.

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