PHOENIX - Sept. 14, 2017 - PRLog -- Lightstone Solutions, LLC (www.LightstoneSolutions.com) announced today that it has established an EB-5 Investigative Due Diligence Unit. The EB-5 Investigative Due Diligence Unit will focus on providing Investigative Due Diligence Services to international investors seeking to invest, or who have already invested, in businesses and projects in the United States pursuant to the EB-5 Immigrant Investor Visa Program created in by the Immigration Act of 1990.
What is the EB-5 Immigrant Investor Visa Program?
The EB-5 Immigrant Investor Visa Program provides a means for eligible Immigrant Investors to become become permanent resident "green card" holders by investing at least $1,000,000 to finance a business in the United States that will employ at least 10 American workers. The EB-5 program also allows minimum investment of $500,000 in a targeted employment area (TEA) which is defined as a rural area or area with high unemployment.
The EB-5 Immigrant Investor Program was created by Congress in 1990 in order to "stimulate the U.S. economy through job creation and capital investment by foreign investors," according to the U.S. Citizenship and Immigration Services website.
The future of the EB-5 investment program has faced uncertainty for some time from issues that range from security concerns about proper vetting of the EB-5 investor-petitioners to concerns about fraud committed against the investors by unscrupulous promoters. President Trump's recent budget deal with Congress includes extension of EB-5 through December 8, 2017. The Administration has signaled that it will likely seek continuation of the program with Congressional reform.
Preventing EB-5 Investment Fraud
"In recent years the U.S. Securities and Exchange Commission has successfully brought enforcement actions against in excess of $1 Billion in EB-5 projects, a majority of them against unscrupulous individuals or companies that misuse investors' funds", said William S. Papazian, CEO of Lightstone Solutions. "With the recent extension of the EB-5 Immigrant Investor Program to December 8, 2017 and an industry expectation of more permanent EB-5 legislative reform, we have observed a strong - almost frenzied - push by some to recruit investors as soon as possible. Despite the legitimacy of many of these projects, this potentially opens the door to more unscrupulous promoters taking advantage of this situation", added Mr. Papazian.
"Many investors come from China, South Korea, Taiwan, United Kingdom, and Hong Kong." said Mr. Papazian. "Lightstone Solutions' EB-5 Investigative Due Diligence Unit provides a means by which foreign investors can gauge the legitimacy of the individuals and companies they are considering investing in by delving into the backgrounds of the promoters and their projects in many areas including regulatory issues, criminal and civil histories, complaints and reputation. All too often investments are being made on blind faith of legitimacy. We don't evaluate investment merits - we evaluate the merits of the people being invested with." added Mr. Papazian.
ABOUT LIGHTSTONE SOLUTIONS, LLC
Lightstone Solutions, LLC is a boutique firm specializing in international due diligence and Foreign Corrupt Practices Act compliance, investigative consulting, background checks, computer forensics and electronic discovery. The firm serves public companies, governmental agencies, international companies, public pension funds, financial institutions and other regulated business interests.The Company was founded by Bill Papazian in 2001.
Contact
Lighstone Solutions, LLC
602-206-3800
bpapazian@lightstonesolutions.com
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