Read more stories about
South Dakota  >>

MATR Sponsor:

MATR Supporters:

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,

Full Story: ... t/76674756/
No reader comments so far. Be the first to comment by clicking the button below.

Reprinted under the Fair Use doctrine of international copyright law. Full copyright retained by the original publication. In accordance with Title 17 U.S.C. Section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.

E-mail this page to a friend!