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Feb 17 - Two Dozen Immigration Lawyers to Be Sanctioned By SEC in EB5

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  • Feb 17 - Two Dozen Immigration Lawyers to Be Sanctioned By SEC in EB5

    Comment: Two Dozen Immigration Lawyers to Be Sanctioned By SEC in EB5
    Bloomberg Business reports that the Securities and Exchange Commission "is preparing sanctions against as many as two dozen immigration lawyers" for accepting EB5 referral fees. If true, this is a long overdue enforcement action - the EB5 field suffers from several industry-wide bad practices, of which accepting referral fees by some immigration attorneys is one. Senator Grassley has been harping on one EB5 immigrant from Iran who apparently has national-security-related clouds hanging over his head - while keeping silent about widespread securities violations that plague the entire EB5 industry. If Senators Grassley, Sessions, et al truly want to spotlight problematic issues that need fixing in the re-authorization process for EB5, they need look no further than securities law compliance by all major EB5 industry actors.

    The principal problems originate in systematic, pervasive, across-the-board lies told by Chinese migration agents to Chinese investors as to commissions collected by Chinese migration agents for investments made by Chinese investors. Invariably, Chinese migration agents present themselves as lily-white paragons of virtue and insinuate that greedy American middlemen (including immigration lawyers) are the culprits collecting commissions. The trouble with this wholesale violation of securities disclosure requirements is that Chinese investors are not put on notice that they are being steered into bad projects with shaky finances by interested parties (i.e. Chinese migration agents) - resulting in poor investment quality across almost the entire EB5 investment spectrum, with sorry outcomes for US job creation, and contrary to Congressional statutory mandate. The SEC should be mindful that its upcoming enforcement against US immigration lawyers will be spun in China as yet another example of Yankee perfidy. We encourage SEC to issue press releases highlighting the central and nefarious role played by Chinese migration agents to ensure that the forthcoming enforcement action truly results in cleaning up some of the mess, instead of the field once again falling prey to awful practices forced down US throats by Chinese actors.

    Two dozen law firms is a largish number, and we understand that several prominent names are on the SEC list. Taking referral fees is a bad business idea (regardless of any ethical or legal issues) for immigration lawyers, and we urge the bar to refrain from such a crummy business risk. Non-disclosure to clients about referral fees accepted is a clear ethical no-no, and we are shocked to learn that some immigration lawyers are apparently doing just that.

    EB5 remains an interesting idea in our immigration system, and its promise is just beginning to be fulfilled. EB5 does not need shoddy business practices - and even a sweeping deluge wiping out most industry players will not alter its destiny - EB5 has caused, continues to create, and will lead to, American jobs. We encourage SEC and USCIS to move forward with enforcement action against bad players.

    Share your thoughts by writing to editor@ilw.com.

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    Focus: EB-5 Events for Chinese Students
    Chinese international students are coming to the US in dramatically increased numbers. The explosion in undergrad Chinese students started in 2008 and continues. For EB-5 purposes Chinese students offer the best prospects. We have been conducting events in 2014 educating Chinese Students on EB-5 in New York City. We can conduct similar events in six other cities across US. For each city we promote the event to multiple campuses across the metropolitan region; this can vary from ten to twenty campuses per city. The time frame for the events is determined based on the academic calendar. These are short evening events that require a short single night stay trip from the sponsoring Regional Center or law firm. During the educational event covering the students' immigration options the sponsor makes a short presentation about their project or law firm. The event structure allows for plenty of networking opportunities with students. These events are available only to Regional Centers that use Regulation-D or to law firms, and we require clients to consult a securities attorney before signing up for these events. For more information please contact us at tel: (212)545-0818 or write to us at webmaster@ilw.com.

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    Help Wanted Immigration Paralegal New York, NY. The Seltzer Firm, PLLC (NYC) is seeking employment based immigration paralegal to prepare H-1Bs, PERM, I-140s, adjustments of status, J-1 waivers, and physician immigration matters. Work with attorneys, have contact with scientists, managers, and other professionals, draft documents to establish eligibility for immigration benefits and guide them through the immigration process. The Seltzer Firm combines high-quality legal services with personal attention and hands-on involvement. Competitive salary. Bachelor's plus 2 yrs exp, submit resume and a brief writing sample to hr@theseltzerfirm.com.

    Help Wanted: Immigration Paralegal
    New York, NY. Yarden Law Group is looking for a business immigration paralegal with two or more years of experience with employment and investment visas, immigrant petitions, adjustment of status applications and naturalization. If interested, please send CV and cover letter by email to shavit@yardenlaw.com.

    Certified Translation Services
    Are you looking for certified translations for immigration purposes? American Evaluation and Translation Service, Inc. (AETS), a corporate member of the American Translators Association, provides certified translations in over 100 languages. Since we primarily cater to law firms and universities, AETS' linguists, all of whom either have Master's degrees or more than five years of translation experience, are experts in the field of immigration-related translations. Why entrust anyone else with such important documents? Contact AETS today for a FREE quote. For a copy of our Application for Translation Service, please click here, call (786)276-8190,email translations@aetsinternational.com, or fax the documents to (786)524-0448 or (786)524-3300. Please note that AETS also provides Educational, Work Experience, and Position Evaluations. For more information, please visit the website here or our Foreign Credential Evaluation application here. Application.2013.pdf. You may also call us at (786)276-8190. New customers to AETS will receive a 25% on their first Educational Evaluation request, or on their first one-page translation request - just mention Promotion Code: AETS.ILW.25 to avail of this discount.

    E3 Investment Group
    E3 Investment Group structures offerings that allow foreign investors the opportunity to receive green cards under the U.S. Government's EB-5 program. They have a unique expertise in creating opportunities that do not involve regional centers, but offer all of the benefits of a scaled organization without the negatives. They call this Scalable-Direct. In essence, they are the Non-Regional Center. See a two minute video that describes how it works: http://e3investmentgroup.com/the-non-regional-center. If you would like to learn more, kindly email or feel free to call us directly. Matt Gordon, Attorney at Law, CEO, E3 Investment Group, The Non-Regional Center, Email: matt.gordon@E3investmentgroup.com; Cell: 646-402-5000; Website: http://www.E3investmentgroup.com

    To submit an article or a news item to Immigration Daily, write to editor@ilw.com. Follow ILW.COM on Twitter.

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    ComingsNGoings: Immigration Event
    February 20, 2015, 6pm - 8pm (Central), Chicago, IL, USCIS will conduct a session in Spanish and Korean on Executive Action. Location: USCIS Chicago Field Office, 101 West Congress Pkwy, Chicago, IL 60605. For directions see here.


    An Important disclaimer! The information provided on this page is not legal advice. Transmission of this information is not intended to create, and receipt by you does not constitute, an attorney-client relationship. Readers must not act upon any information without first seeking advice from a qualified attorney. Copyright 1995-2015 American Immigration LLC, ILW.COM. Send correspondence and articles to editor@ilw.com. Letters and articles may be edited and may be published and otherwise used in any medium. The views expressed in letters and articles do not necessarily represent the views of ILW.COM.
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      Requirements for major success:

      • Patience for results – it takes years not months
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      • Major investment in marketing
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