The Knowledge Group Has Scheduled a Live Webcast on EB-5 Program Reforms on the Horizon

NEW YORK - Sept. 29, 2016 - PRLog -- Event Synopsis:

The EB-5 Immigrant Investor Program ("EB-5 Program") is a U.S. immigration program that provides a path to U.S. citizenship for foreign investors who can demonstrate that their capital investment into an existing U.S. business resulted in the creation of at least 10 full-time jobs per foreign investor.  The EB-5 Program is sometimes heralded as a successful immigration program since it promotes economic development through job creation.

However, the EB-5 Program has recently become subject to increased scrutiny and enforcement actions by the Securities and Exchange Commission (SEC). In April 2016, the SEC filed a complaint against Jay Peak Ski Resort and its principals, Ariel Quiros and Bill Stenger, alleging violations of the anti-fraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) and Rule 10b-5 of the Securities Exchange Act of 1934. The complaint alleges that funds raised through the EB-5 Program were fraudulently diverted for uses not permitted under the EB-5 Program. More specifically, the SEC complaint alleges that more than $200 million was misappropriated in a Ponzi-like scheme. Among other things, the complaint also claims that Mr. Quiros allegedly stole approximately $50 million from foreign investors and that Mr. Stenger helped facilitate the fraud.

While some argue that the Jay Peak complaint underscores the need for reform to the EB-5 Program, Congress has not yet passed legislation that would reform aspects of the EB-5 Program identified as problematic by EB-5 industry operators.  It is therefore crucial for stakeholders, developers, regional centers, and immigration attorneys to advise and help implement key processes and best practices to ensure transparency and compliance for the EB-5 Program. In light of these issues, The Knowledge Group has put together a panel of industry leaders and professionals for a two-hour LIVE Webcast that will provide an in-depth discussion of the EB-5 Program and proposed reform measures, as well as the implications of the SEC enforcement action against Jay Peak.

Some of the major topics that will be covered in this course are:

·         EB-5 Immigrant Investor Program: Overview

·         Implications of the Jay Peak Enforcement

·         EB-5 Violations and Obligations

·         Significant Lawsuits

·         Due Diligence Considerations

·         Compliance Responsibilities

·         EB-5 Integrity Act

·         Recent Legal Issues and Litigation Risks

·         Best Practices in Mitigating Litigation Risks

·         Best Risk Mitigation Strategies

Speakers/Faculty Panel

Robert V. Cornish

Special Counsel

Phillips Lytle LLP

Anthony Korda

Attorney

The Korda Law Firm

Osvaldo F. Torres

Shareholder

Torres Law, P.A.

Margo Chernysheva

Founding Partner

MC Law Group

For an updated list of the faculty panel, please visit:

https://www.theknowledgegroup.org/eb-5-program-reforms-on...

About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series

The Knowledge Group, LLC brings together the world's leading authorities and industry participants through informative two-hour webcasts that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.

Visit http://theknowledgegroup.org/  for further information and inquiry.