The South Dakota Supreme Court has denied a request to hear an appeal in a case involving the controversial federal immigrant-investor program known as EB-5.
In July, a circuit court judge dismissed the state of South Dakota from the list of defendants in a lawsuit by 35 Chinese investors who lost $18.55 million in a failed EB-5 economic development project in Aberdeen.
The Chinese investors asked the state Supreme Court to hear an appeal of the dismissal, but on Friday the Supreme Court denied the request to take up the appeal and offered no opinion on the appeal's merits.
That means the lawsuit may continue at the circuit-court level without the state as a defendant. Remaining defendants include Joop Bollen of Aberdeen, who formerly managed the state’s immigrant-investor center under a contract with the state, and two of Bollen’s business entities.
Mentions
Litigation Cases
States
- South Dakota
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.
