Ying Yao vs Carillon Tower/Chicago LP; Forefront EB-5 Fund (ICT) LLC; Symmetry Property Development II LLC; Fordham Real Estate LLC; And Jeffrey L. Laytin
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Ying Yao | vs. | Carillon Tower/Chicago LP; Forefront EB-5 Fund (ICT) LLC; Symmetry Property Development II LLC; Fordham Real Estate LLC; And Jeffrey L. Laytin |
Filing Date:February 02, 2019
Case:Ying Yao Vs. Carillon Tower/Chicago LP
Jurisdiction:Federal District Court for the Northern District of Illinois
Status:Pending
Civil / Criminal:Civil
Breach of Contract
Nearly two years after a proposed Gold Coast hotel/condominium was not given city approval to proceed, an attorney for a group of 90 Chinese investors has filed a motion in United States District Court to compel the developer to disclose the location of $49.5 million of the investors' money.
The project, however, was rejected in April 2017 by 42nd Ward Alderman Brendan Reilly, who was concerned about its impact on traffic.
Each of the 60 investors contributed at least $550,000, hoping to secure an American visa through a federal program known as the EB-5 immigrant investor program.
Their federal class action lawsuit filed on November 28, 2018, in United States District Court alleges securities fraud, breach of contract, and breach of fiduciary duty.
MOTION FOR PRELIMINARY INJUNCTION COMPELLING DEFENDANT LAYTIN TO DISCLOSE THE LOCATION AND FREEZE THE $49.5 MILLION ASSETS IN CONTROVERSY
FileStampedMotionAssetFreeze.pdfNews & Updates
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