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  • June 24 - The Sheriff Shows Up

    Comment: The Sheriff Shows Up
    At long last, the Sheriff finally showed up in EB5. Yesterday, SEC charged 2 companies with unlawfully brokering $79 million for over 150 EB5 investors. An excellent analysis appears in an article by Matt Gordon below. Immigration Daily was the first to urge SEC to take forceful action in 2014 and 2015, and we are pleased to see that SEC has finally begun action. We note below a few points of interest to all involved in EB5:

    • Jurisdiction - the principal miscreants in the EB5 arena are in China, not the USA, and these folks have hitherto dismissed any US securities law concerns with the blithe rejoinder that they were far away from SEC's reach. Immigration Daily avers that in 2015 no one is too far from Uncle Sam. Yesterday's SEC action was against one company based in Florida and another in Hong Kong. This is clear warning to Chinese migration agents to register as US broker-dealers or cease to travel to the USA on EB5 business. We strongly suspect that this SEC action will accelerate the practice of all EB5 transactions being brokered by US broker dealers.
    • Investor Choice - the 2 companies targeted in SEC's enforcement action steered EB5 investors to a small handful of Regional Centers. Choosing a Regional Center is a critical decision for an investor - not just for the security of his/her money, but also for the security of the green cards thus obtained, both of which outcomes turn on the success or lack thereof of the underlying business opportunity in the United States. Overseas migration agents are unqualified to judge US-based business opportunities. Chinese migration agents deserve handsome compensation for educating Chinese investors about the US immigration process, and for constant assistance during this process - what Chinese migration agents are singularly incompetent at doing is choosing appropriate investments, since such choices can best be made by US-based financial intermediaries (duly registered by FINRA/SEC, etc). Several Regional Centers have based their business models on hoodwinking Chinese investors by having the choice of investment guided by parties in China instead of USA, these folks are now on notice that they are in the SEC's cross-hairs.
    • Legislation - SEC's action clearly demonstrates that US law enforcement is active, and provided SEC persists in remaining active, more than competent in policing bad actors in the EB5 space. Congressional action is not needed at this stage - huge and complicated bills may create more problems than they solve - Congress would be well advised to step back for a while and see how SEC's action (and forthcoming future actions) change market behavior - after all, Congress can always step in at a later date should it be necessary instead of throwing the baby out with the bathwater through hasty legislation.

    We applaud SEC in finally taking forceful action, and urge SEC to be mindful that much bigger targets (in the $1 billion plus range) remain as bad actors still to be punished. Until these bigger targets are stopped, integrity will not be a hallmark of the EB5 market. Well done, SEC, we encourage you onward.

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

    Article: Miami Vice. By Matthew Gordon

    Article: Common Law Master-Servant Relationship NOT Master-Slave OR Indentured Servant. By Joseph P. Whalen

    Article: RFE H1B - What to Do with the Wrong Degree in the Right Job. By Sheila Danzig

    Blogging: I Moved. Should I File a Change of Address? By Jason Dzubow

    News: SEC Charges Unregistered Brokers in EB-5 Program

    News: DHS Announces Temporary Protected Status Designation for Nepal

    News: EB-5 Class Action Lawsuit Filed: Zhang v. USCIS

    News: Statement by DHS Secretary Jeh Johnson on Family Detention

    Focus: EB-5 Investors from Persian Gulf
    ILW will customize a Persian Gulf marketing event that will be exclusive to your organization and will be tailored to generate business relative to the EB-5 industry directly to your firm. Giving China's retrogression, it is wise to have an alternative source of investors. After conducting several successful events in Dubai, Abu Dhabi, Kuwait, Doha, Manama, and Muscat we are offering a Six City Persian Gulf Tours covering all these cities.

    We research and target select regions and individuals of high net-worth status to guarantee an attendance of screened individuals with the financial means of being able to participate in an EB-5 investment.

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    • An intimate ambiance: we purposely guarantee a minimum of 25 attendees in total per event in order to ensure all questions are answered thoroughly and that direct contact is established between the presenter and potential investor. In addition, we ensure that each potential investor has an opportunity to sit down with the presenter in a private 1 on 1 sit down in immediately after the presentation portion which increases transparency for the potential investor.
    • A unique opportunity for professionals that participate in this service to convert as many possible investors without paying a single cent in commission or any contingent fees as typically witnessed in the China EB-5 industry.
    • Fully ethical and SEC compliant services related solely to marketing which does not involve the selling or facilitation of security placement.
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    We urge all those who are interested to obtain further information about this service to directly contact our office at 212.545.0818 or e-mail us at webmaster@ilw.com.

    Headline: The 5th TLA Law "Life in America: Visas, Startups, & "Green Cards"" Joint Seminar Click here
    Headline: SEC Busts Firms in $79M Immigration Scheme Click here
    Headline: Obama extending amnesty to illegals in prisons, jails Click here
    Headline: Obama Immigrant Policy Raises $422M From DACA Application Fees, Remains Controversial Among GOP Click here
    Headline: 2 Years Later, Immigrants Are Still Waiting on Immigration Reform Click here
    Headline: The Davis-Oliver Act Would Restore Meaningful Interior Enforcement of U.S. Immigration Laws, Says FAIR Click here

    Help Wanted: Immigration Attorney
    New York, NY. Boutique law firm in New York City specializing in Business and Family based immigration matters seeks senior attorney with at least five years of experience in the business immigration area, including PERMs, H and L filings. Position will provide opportunity to supervise junior attorneys as well as work independently. Candidate must be self-motivated willing to take on challenges, team player with excellent writing skills. Requirements: At least 5 years experience in Business Immigration. To apply contact anil@jethmalani.com

    Help Wanted: Immigration Attorney
    Toronto, ON - PricewaterhouseCoopers Immigration Law LLP, a law firm affiliated with PricewaterhouseCoopers LLP, seeks an experienced U.S. immigration attorney to provide corporate immigration solutions to a diverse business clientele. This position offers excellent opportunities for leadership, and career advancement. Responsibilities include managing the provision of legal services for NIV and IV matters including H-1B, L-1, TN, E-1/2, J-1, O-1, B-1/2, PERM, immigrant petitions, consular processing as well as advising on compliance and related matters. Must demonstrate a solid understanding of U.S. corporate immigration law, compliance issues and audits, be able to effectively manage law clerks and other client service team members and undertake business development. Require JD and admission to any U.S. state bar and at least 3 years of post-call U.S. corporate immigration experience. Please apply at www.pwc.com/ca/careers.

    Help Wanted: Immigration Attorney
    Chicago, IL. Sidley Austin LLP is seeking a staff attorney for the Immigration practice in the Chicago office. Applicants must have 2-4 years of experience in immigration law, which should include experience in the following: Preparation and filing of PERM applications; Advising clients on I-9 compliance issues; Counseling on all aspects of corporate immigration law, including E, H,L,O,PTN, permanent residency, and naturalization. Please send resume, transcript and cover letter to Jenny Connelly at lrch@sidley.com.

    DNA Testing
    With over a decade of experience and access to over 5000 collection centers nationwide, DNA Lab Center is one of the leaders in the DNA testing industry. All DNA Tests performed are accredited by the A.A.B.B. (the American Association of Blood Banks) and within the guidelines set forth by the DHS. Our reports are accepted by the Consular Section at the embassy, the U.S.C.I.S., and American Citizen Services offices. Every sample collection performed follows a strict chain-of-custody allowing the results to be notarized and court admissible. Using the most advanced technology in the industry, DNA Lab Center is able to reach 99.9 % accuracy on each test we perform. DNA Lab Center will coordinate shipping the DNA collection kit(s) to the embassy requesting the test and will also provide all contact information to embassy personnel for scheduling the beneficiary's appointment. You can be confident your clients will receive the utmost care, consideration, and confidentiality throughout this process. English, Spanish, French and Hebrew spoken. Contact: 866-940-4DNA, 866-720-3550, 718-940-4DNA, info@dnalabcenter.com Website: http://www.dnalabcenter.com.

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

    Letters of the Week:

    ComingsNGoings: Immigration Event
    July 8 - 09, 2015, 11am - 2pm (Eastern). The Immigrant Learning Center will hold a webinar on "Immigrant Student Success: Models and Tools for K-12 and Adult Educators." Through interactive webinars and live group exercises with experts, you will learn about asset-based models and techniques for capitalizing on classroom diversity. You will also learn how to recognize and build on the strengths of your immigrant students for the benefit of the entire classroom through innovative lesson planning and classroom activities. For registration 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.
    Publisher: Sam Udani ISSN: 1930-062X
    Advisory Board: Jason Dzubow, Rami Fakhoury, Matthew Kolken, Chris Musillo, Lory Rosenberg, Greg Siskind, Joel Stewart, Margaret Wong
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