Chinese nationals looking to come to the U.S. through the EB-5 investor visa program sued TD Bank N.A., saying the bank ruined their green card applications by transferring $13.2 million of funding for an EB-5 qualifying hotel development to the wrong people.
The two dozen investors argued that TD Bank breached its fiduciary duty and violated the terms of an escrow agreement that mandated that their funds only be released to Coconut Beach/Hawaii LLC, after U.S. authorities approved their green card petitions.
Source: law.com
