WASHINGTON, May 25, 2017 /PRNewswire/ -- The Wall Street Fraud Watchdog says, "We are increasingly becoming concerned that EB-5 Visa applicants/investors from China or any other country in the world are being duped by regional centers that are in fact one in the same as the developer or promoter of the investment. This calls into question-why pay a broker a $50,000 broker fee when the regional center and investment are one in the same? It also calls into question where are the attorneys who should be protecting their client?
"If you are a EB-5 Visa applicant/investor please call us anytime at 800-714-6466 so at a minimum we can try to learn more about what a regional center is offering you. The last thing we want to see happen to a person wishing to gain a EB-5 Visa is to get grossly overcharged by a regional center, a law firm-or both. More importantly we do not want to see a EB-5 applicant lose their entire investment of $500,000-$1,000,000 or more when add in 'broker/regional center' and legal fees." http://WallStreetFraudWatchdog.Com
As an example of what the Wall Street Fraud Watchdog is talking about, according to the Los Angeles Times on May 20, 2017, "After giving his money to the California Investment Immigrant Fund in 2011, the Chinese businessman took annual trips to Los Angeles. Each time, he said, a representative would take him on a tour of various vacant sites around Rancho Cucamonga and assure him the developments were on track. But the projects were never built." www.latimes.com/local/lanow/la-me-visa-fraud-victims-20170520-story.html+&cd=5&hl=en&ct=clnk&gl=us
The Wall Street Fraud Watchdog is warning EB-5 Visa applicants to be extremely cautious about multi- family rental properties as investments in the United States. The group just spent a week in Southern California and the new apartment/multi-family rental market is completely overbuilt as are numerous other major population centers throughout the United States.
The group fears that EB-5 Visa investors who invest in residential apartment properties in prestigious US metro areas such as New York, Los Angeles, Seattle, Houston, Dallas, or Chicago could get burned because the potential for crushing vacancy rates caused by overbuilding. The Watchdog is pointing to a April 2017 news article discussing over built apartment markets in Missoula, Montana. According to the group, "If developers have overbuilt Missoula, Montana it's a pretty ominous sign for the entire USA. There are no direct flights from China to Missoula, Montana." For attribution please refer to the following news article: http://www.missoulacurrent.com/business/2017/04/missoula-apartment-boom/.
Chinese investors comprise the largest group of EB-5 Visa applicants. For attribution to the NPR audio titled 'Chinese Investors Among Majority Of EB-5 Visa Recipients' please refer to the following website: http://www.wfdd.org/story/chinese-investors-among-majority-eb-5-visa-recipients
The Wall Street Fraud Watchdog is concerned US based law firms with offices in China, Central America, the Middle East or in Europe could be more interested in legal fee generation for the law firm-than a high quality outcome for a EB-5 Visa applicant. At the same time, they are not confident all EB-5 Visa Regional Centers have a make sense investment product for the EB-5 Visa applicant/investor. They are also extremely concerned the regional center and the investment are one in the same.
The Wall Street Fraud Watchdog's initiative is all about protecting the EB-5 Visa program applicant/investor and their money with their affordable due diligence services. For more information related to investment due diligence report for a potential EB-5 Visa investor, please contact the Wall Street Fraud Watchdog at 866-714 6466. http://WallStreetFraudWatchdog.Com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/wall-street-fraud-watchdog-now-urges-chinese-eb-5-visa-investors-to-use-their-due-diligence-service-to-avoid-getting-fleeced-by-a-regional-center-or-a-law-firm-300463761.html
SOURCE Wall Street Fraud Watchdog