Chinese Investors Want DOJ Review After Fraud Deal Defaults

Law360 (July 22, 2021, 5:39 PM EDT) -- Chinese investors in a $50 million Chicago tower project that went nowhere asked an Illinois federal judge Wednesday to invite federal prosecutors to review their fraud case after the project owners signaled they again won't meet their deadline to fund the parties' settlement.

The investors asked U.S. District Judge Charles Kocoras to invite the U.S. Department of Justice into their case after Carillon Tower LP and others involved in the tower project, which never broke ground, signaled for at least the eighth time that they won't be able to meet their anticipated deadline to fund the settlement that the court approved...

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