Energy Co. Lied In EB-5 App For Biofuel Plants, Say Funds

Law360, New York (October 3, 2016, 8:56 PM EDT) — A handful of GreenFuels Energy LLC units that tried to buy four biofuel plants lied on an EB-5 program application, overstating the capabilities of the proposed plants and hiding key business plan details, three capital funds helping to arrange investor funding alleged Friday.

The units consistently misrepresented what they would be able to accomplish through electricity-generating plants in Georgia and North Carolina when they asked U.S Citizenship and Immigration Services to approve the projects for foreign investment, according to a complaint lodged by the funds, Five…

Source: Law360