IIUSA has been closely following the proceedings of the Securities and Exchange Commission (SEC) vs. A Chicago Convention Center case. The status hearing which was scheduled for this past Monday 25th was postponed and is rescheduled for next Wednesday April 3rd. IIUSA will be in attendance and keep our members up to date on the outcome of the hearing and any other proceedings.
Last week, the SEC filed a motion to modify the asset freeze to return the EB-5 investors’ capital to them directly, on the path on which the capital came into the frozen accounts. IIUSA fully supports this motion by the SEC and will be filing an amicus brief prior to the 4/3 hearing that articulates our position to the court. Stay tuned for a copy of IIUSA’s forthcoming amicus brief.