EB-5 Fraud Suit Tied To Failed Hotel Sees Key Settlement

Law360 (April 1, 2021, 7:17 PM EDT) -- A Florida federal judge has approved a settlement between a group of Chinese investors and a man they say aided a fraud scheme that duped them into investing in a failed hotel with the hopes of securing EB-5 visas, with the man poised to assist the litigants in exchange for claims against him being dropped.

In their motion for approval, the investors said that upon the court's acceptance of the agreement, they would move for dismissal of their claims against Anthony Reitz, who they accused of helping alleged mastermind Joseph Walsh Sr. dupe investors into funneling millions of dollars into the Greystone Hotel project...

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