Written by: Taher Kameli, Esq. The EB-5 investment program has been a popular vehicle for foreigners to obtain green cards, and permanent lawful residency status, in the United States. As the EB-5 program creates jobs in the United States, it represents a form of immigration that is believed to be favored by President Trump. In fact, the family of President Trump’s son-in-law and advisor, Jared Kushner, has been directly involved in EB-5 projects. Currently, the amount of capital contribution to invest in an EB-5 project is either $500,000 or $1,000,000. The $500,000 amount
Written by: Taher Kameli, Esq. Trump’s stringent immigration policy running afoul of America’s long-standing tradition of embracing immigrants is widely known across the globe. Anti-immigration policies as the centerpiece of Trump’s agenda through which U.S. major issues could allegedly be resolved have stoked concerns among foreign nationals. In such an unwelcoming climate, individuals with outstanding academic and professional profile as well as investors (qualifying for the EB-1, EB-2 NIW and EB-5 categories) may view U.S. permanent residency unachievable
Written by: Taher Kameli, Esq. The EB-5 Immigrant Investor Program dating back to 1990 continues to be an attractive route to U.S. citizenship and the participation rate for the program has remained high among foreign investors. Importantly, almost 40,000 EB-5 petitions have been filed with the United States Citizenship and Immigration Services (USCIS) over the past three years. Since its inception, the EB-5 program has proven to be beneficial to the U.S. economy as well. It has truly emerged as a vital source for job creation and has helped stimulate the U.S. economy.
When the SEC files a complaint, it’s easy for the public to just assume that the defendant is guilty as charged and there won’t be any more to the story but determining punishment. Even worse, USCIS tends to assume this and has been known to deny and revoke investor petitions and terminate regional centers before the SEC cases are concluded. We all need to remember that sometimes the defendant might have a compelling other side of the story, and might not be found guilty.
A Chicago-based senior living developer avoided being barred from the EB-5 Immigrant Investor Program, and his companies are not going into receivership, after a federal judge on Tuesday denied a request for a preliminary injunction and receivership made by the Securities and Exchange Commission. The commission has accused Taher Kameli, who is an immigration attorney, of improperly commingling and misusing some of the $88.7 million he had raised from foreign investors to finance the construction of assisted living and memory care communities in Illinois and Florida.
Earlier this month, the Federal District Court for the Northern District of Illinois denied the SEC’s request for a preliminary injunction against Seyed Taher Kameli and entities he controlled to (i) stop them from having any further involvement in the EB-5 program and (ii) to halt activities that the SEC alleged were in violation of securities laws. This is one of the first significant losses that the SEC has suffered in a EB-5 case that it has brought before a Court and may be a sign that the SEC is overplaying its hand and has become overzealous in its delve