💰 Financial Record

payment

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Transaction Details

Amount

USD $5,000,000.0

Payer (From)

Walsh (using foreign investors' funds) Linked to Walsh (using foreign investors' funds)

Payee (To)

Robert Matthews Linked to Robert Matthews

Transaction Date

March 01, 2014

Description

Loan to keep Palm Beach mansion from being foreclosed on.

Additional Details

Date string: Unspecified (prior to March 2014)

Amount string: 5000000

Source document: HOUSE_OVERSIGHT_029524.jpg

📄 Source Document

HOUSE_OVERSIGHT_029524.jpg

ESTATE Collection

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Document Summary

This document is page 5 of a printout from 'The Real Deal' regarding the Palm House development scandal, produced for the House Oversight Committee (Bates stamp HOUSE_OVERSIGHT_029524). It details how developer Robert Matthews utilized an associate named Walsh to raise funds through 'SARC' and the EB-5 visa program, alleging that Walsh diverted over $5 million in investor funds to save Matthews' personal Palm Beach mansion from foreclosure. The text also discusses the broader context of the EB-5 program's growth and high failure rate of regional centers between 2014 and 2019.

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