HOUSE_OVERSIGHT_029521.jpg
1.87 MB
Extraction Summary
5
People
5
Organizations
4
Locations
2
Events
2
Relationships
3
Quotes
Document Information
Type:
News article printout (the real deal) / congressional record
File Size:
1.87 MB
Summary
This document is a printout of a news article regarding the Palm House EB-5 fraud case, stamped as a House Oversight record. It details how developer Robert Matthews and contractor Nicholas Laudano pleaded guilty to fraud, misusing investor funds for personal luxuries like a yacht named 'Alibi'. The article highlights the lack of criminal charges against regional center director Joseph Walsh Sr., who allegedly siphoned nearly $9.5 million, and criticizes the lack of regulation in the EB-5 visa program.
People (5)
| Name | Role | Context |
|---|---|---|
| Robert Matthews | Developer |
Pleaded guilty to fraud charges; utilized EB-5 funding for personal expenses.
|
| Nicholas Laudano | General Contractor |
Pleaded guilty to fraud charges in federal court.
|
| Joseph Walsh Sr. | Director |
Director of SARC; allegedly siphoned $9.5 million; charged civilly by SEC.
|
| David George | Attorney |
Attorney at George Gesten McDonald PLLC; representing EB-5 investors.
|
| Doug Litowitz | Attorney |
Chicago attorney representing Chinese clients; commented on the lack of oversight.
|
Organizations (5)
| Name | Type | Context |
|---|---|---|
| South Atlantic Regional Center (SARC) |
Allegedly siphoned investor money; middlemen between developers and investors.
|
|
| SEC |
Filed a civil complaint against Joseph Walsh Sr.
|
|
| George Gesten McDonald PLLC |
Representing investors in the Palm House lawsuit.
|
|
| Palm House |
Failed development project central to the fraud case.
|
|
| House Oversight Committee |
Source of the document (indicated by footer stamp).
|
Timeline (2 events)
Recently (relative to June 2019)
Robert Matthews and Nicholas Laudano pleaded guilty to fraud charges.
Federal Court
Recently (relative to June 2019)
Locations (4)
| Location | Context |
|---|---|
|
Development project location.
|
|
|
Location of another hotel project Walsh allegedly solicited investors for.
|
|
|
Location where a lawsuit was filed.
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|
|
Venue for fraud pleas and SEC complaints.
|
Relationships (2)
Both pleaded guilty to fraud charges regarding the Palm House project.
Document identifies Walsh as the director of the South Atlantic Regional Center.
Key Quotes (3)
"This is the most egregious fraud case I have ever seen"Source
HOUSE_OVERSIGHT_029521.jpg
Quote #1
"No one is watching the regional centers"Source
HOUSE_OVERSIGHT_029521.jpg
Quote #2
"The current system, critics say, is a petri dish for fraud that allows bad actors to come and go"Source
HOUSE_OVERSIGHT_029521.jpg
Quote #3
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