DHS 'Decimated' EB-5 Visa Capital Firms, Investors Say
By Craig Clough (May 24, 2022, 7:44 PM EDT) -- A group of investors hit the U.S. Department of Homeland Security with an Administrative Procedure Act suit on Tuesday in Washington, D.C., federal court, alleging the department "categorically decimated an entire industry" by decertifying over 600 regional center programs as a part of its reorganization of the EB-5 visa program.
According to the suit from the investment and capital firms against DHS, the U.S. Citizenship and Immigration Service, DHS Secretary Alejandro Mayorkas and USCIS Director Ur Mendoza Jaddou, rather than gradually requiring EB-5 regional centers to make changes in line with the new system, USCIS misinterpreted the EB-5 Reform and Integrity Act of...
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