Blue Biofuels Inc (BIOF)

[LTE]

The EB-5 lawsuit says that the escrow accounts were "pillaged":

<<Their funds were supposed to be held in escrow until the U.S. government approved their I-526 petitions for the EB-5 visa program, which provides green cards to foreign residents who invest significant money in a U.S. business and create jobs for American workers. But instead, the suit alleged their money was improperly transferred to other accounts and pillaged by Walsh and his co-conspirators.

The investors claim Walsh and his fellow conspirators stole their money and used it to purchase multiple private homes and investment properties, a $6 million yacht, luxury cars and vacations and to pay off millions of dollars of personal debt.>>

https://www.law360.com/articles/881308/palm-beach-companies-urge-court-to-toss-50m-eb-5-suit