Subject: Re: EB5 Program
From: "James Bulger" <[email-masked]>
To: "Eric Schwerin" <[email-masked]>
Cc: <[email-masked]>, "Devon Archer" <[email-masked]>, "Hunter Biden" <[email-masked]>
Date: Fri, 21 Sep 2012 10:14:27 -0400

Eric
I am very familiar with the EB-5 program
There are many developers meeting success using this vehicle   I have
however steered Thornton clear of any involvement in this type if endeavor
and that us mainly due to the fact that I can see the Visa are going
predominantly to wealthy Chinese and at some point I believe there will be
political fallout.
Having said that the best way for your guys in Chicago to proceed is to
speak to their Regional. EB-5 office every region has an office and it is
usually a local law firm that has applied to the Feds to be the Regional
Office.  The lawyers here in Boston are friends of mine if your guys want
to speak to them
My brother also works at a fund house that has used EB -5 money for some
Real Estate development   So we know this project is really popular at the
moment
Use caution bundling money in China as it can fly counter to SEC
regulations. I have been warned about that a number of times
That's my speech which I know is not very helpful. But let's have a quick
chat around 11:30  does that work for you?
Thanks
Jimmy

On Friday, September 21, 2012, Eric Schwerin wrote:

> Jim-
>
> I just got off the phone with Devon and we were talking about some help we
> are providing to a group out of Chicago on the EB5 program.  Not sure if
> you know about it but the EB5 program provides green cards to foreign
> investors who invest $1,000,000 in the U.S. in a project that will create
> 10 jobs.
>
> This group we are working with in Chicago is headed to China on Sunday so
> it is a little time sensitive.  They tell us that they have a number of
> Chinese investors who want to invest in a couple of development deals in
> Chicago through this program but the problem, as you can guess, is that
> they have is that they have trouble getting the money out of China.  They
> have asked us if we can help them figure out a vehicle through which to do
> so and they would pay us a fee for helping to set it up and help them
> transfer the money.   They used the example of taking a $50K fee for every
> $500,000 invested.  Not sure if their Chinese investors would go for it,
> but they were told that they would pay a significant fee to avoid the
> hassles of getting the money out.
>
> Have you had any experience with this or do you think we could all jointly
> help them with something like this.
>
> As I said, it is sort of time sensitive as they are headed to China on
> Sunday and would love to be able to tell their investors that they have a
> way to do this.
>
> Let us know.   Happy to talk further about it if you want.
>
> Best,
>
> Eric
>
>
>
>
> Eric D. Schwerin****
> Rosemont Seneca Partners, LLC****
> 1010 Wisconsin Ave., NW****
> Suite 705****
> Washington, DC 20007****
> (202) 333-1880****
> [email-masked]****
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-- 
James J. Bulger
Chairman
Thornton Group LLC
14 Beacon Street, Suite 804A
Boston, MA 02108
Office tel: 617.248.944