EB-5 RCBJ Retrospective: Form I-924A as a National Security and Fraud Detection Tool
Lane Powell Shareholder Diane Butler co-authored an Invest in the USA blog post titled “EB-5 RCBJ Retrospective: Form I-924A as a National Security and Fraud Detection Tool.” The article discussed how the Department of Homeland Security screens not only EB-5 green card investors, but also U.S. Regional Center principals and the new commercial entities used for pooling funds.
The results of the December 2014 [Freedom of Information Act] FOIA inquiry into Form I-924A filings provide a fascinating glimpse into the anti-fraud and national security toolbox of the Department of Homeland Security (DHS) as specifically applied to the EB-5 Regional Center Program. The annual rigorous screening of designated Regional Centers is in addition to the comprehensive USCIS, Department of State, CIA and FBI security and risk analysis of individual investors seeking immigration benefits through the Program and SEC oversight of investment offerings.