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Foreign Investors Claim South Dakota EB-5 Program Tricked Them

December 4, 2015View for printing

Thirty-five investors who lost nearly $20 million in South Dakota's EB-5 program sued the state Wednesday, accusing the state and its agents of committing fraud and misrepresenting the viability of a $120 million beef packing plant.

The 35 were among more than 100 Chinese investors who lost their money when the Northern Beef Packers Plant in Aberdeen went bankrupt in 2013. Three months later, Richard Benda, the former Secretary of Tourism and Economic Development and a supporter of the EB-5 program, was found dead in a Charles Mix County shelter belt with what authorities said was a self-inflicted shotgun wound to the abdomen.

Jonathan Ellis, jonellis@argusleader.com

Full Story: http://www.argusleader.com/story/new ... t/76674756/
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