Hotel Mortgage-Holder Wants Out Of $50M EB-5 Suit

Law360, New York (January 9, 2017, 6:48 PM EST) -- The holder of a hotel mortgage has told a Florida federal court that it doesn’t belong as a defendant in a suit brought by a group of foreign nationals who say a $50 million fraud scheme tricked them into investing in the real estate project in hopes of joining the EB-5 visa program.

KK-PB Financial LLC, which holds a $27.4 million mortgage on the Palm House Hotel LLP, said in a motion to dismiss Friday that the immigrants from China and Iran fail to explain how...
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Case Information

Case Title

Li et al v. Walsh, et al


Case Number

9:16-cv-81871

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Kenneth A. Marra

Date Filed

November 14, 2016

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