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A Chicago Convention Center LLC
If you invested in A Chicago Convention Center, LLC and Intercontinental Regional Trust of Chicago during the Relevant Period, you may be eligible for compensation.More Information
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On February 6, 2013, the SEC filed the Complaint in this action, alleging that Anshoo R.Sethi (“Sethi”), A Chicago Convention Center, LLC (“ACCC”), and Intercontinental Regional Center Trust of Chicago (“IRCTC”) (collectively, the “Defendants”) exploited the EB-5 federal visa program as a means to defraud investors seeking monetary returns and a legal path to U.S. residency. As part of the fraud, investors were required to invest $500,000 in ACCC (the “Investment”) and pay $41,500 to the Defendants in administrative fees (the “Administrative Fees”). Defendants collected over $145 million in Investments and $12 million in Administrative Fees from more than 250 investors primarily located in China (the “Investors”). While the majority of the funds were already returned, there is a remaining “Net Loss Amount” defined as “the difference between Administrative Fees paid by the Investor and the Administrative Fee Offset.” On April 19, 2013, the Court modified the Asset Freeze to permit SunTrust to return to the Investors “all Subscription Proceeds” received from the Investors (the “April 19 Order”). Dkt. No. 71. Pursuant to the April 19 Order, SunTrust returned over $147 million to Investors, thereby returning to each Investor the entirety of their Investments, and in a handful of cases, some or all of the Administrative Fees paid. More than $11 million in Administrative Fees paid by the Investors remain uncompensated.