EB-5 Investor Lawsuit Could Threaten Construction of South Dakota Beef Facility
A new lawsuit could threaten construction of a Northern Beef Packers (NBP) cattle processing facility in South Dakota. NBP decided not to pay a $50,000-per-investor commission (with potentially up to double that as a “success fee”) for recruiting EB-5 investors to Henry Global Consulting Group because it did not bring in as many investors as it had agreed to recruit. According to reports, Henry Global then persuaded several investors to sue the regional center. The lawsuit alleges that investors did not receive crucial facts about the project and were not included in key decisions as agreed upon.
This is just the latest in a long series of problems for the project. Almost six years after developers purchased the site, the project has been delayed continually by lawsuits, liens, and tax problems.
