Receiver Asks Court To Approve Sale Of Seattle Tower

Law360, New York (May 17, 2016, 11:50 AM EDT) -- The receiver in a $136 million EB-5 fraud suit presented his proposal for how the Seattle skyscraper project at the center of the suit should go forward, telling a Washington federal judge Friday that the best solicited proposal is one that keeps the project's immigration goals alive.

Receiver Michael A. Grassmueck was ordered by the court in April to solicit bids for the project and at least attempt to keep the original goal of soliciting foreign investment alive in order to give its revoked EB-5 status a fighting chance of being restored. On Monday, both Lobsang Dargey — a relief defendant...

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