By Grace Dixon (August 30, 2022, 7:10 p.m. EDT) — Chinese investors have filed a lawsuit against an EB-5 regional center in federal court in New York, alleging the center misled investors backing a building renovation project. part of the George Washington Bus Station Bridge and squandered their funds to the tune of $57 million.
The coalition of 107 individual investors filed a lawsuit against the New York City Regional Center LLC, or NYCRC, on Monday challenging the center’s handling of a loan to George Washington Bridge Bus Station Development Venture LLC, solicited by the Port Authority of New York and New Jersey to improve the retail space in the bridge bus station.
Investors have set up…
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