EB-5 Scam Alleged in Palm Beach

The biggest question individual investors have about investing in the EB-5 Visa program is how safe is their investment. The unfortunate truth is, it depends. It is always best to work with people who have a track record in the EB-5 program before putting all that money at risk for a shot at the American Dream.

More than 50 Chinese and Iranian investors filed a lawsuit against the developers of the Palm House condo-hotel project, alleging they were defrauded out of $50 million.

The foreign nationals invested $500,000, each, into the Palm House development at 160 Royal Palm Way, the minimum amount required to be eligible for a visa through the EB-5 investor program. They are suing 33 defendants, including developer Robert Matthews and his wife Mia Matthews, brother Gerry Matthews, Ryan Black, Joseph Walsh and Joseph Walsh Jr.

Read Katherine Kallergis’s The Real Deal’s article here:

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