EB-5 developer in Palm Beach pleads guilty to money laundering and tax evasion charges Robert Matthews once claimed that Donald Trump and President Bill Clinton would be on the project’s advisory board
Bob and Mia Matthews (Credit: PRWeb)
Robert Matthews, the developer of the Palm House Hotel, pleaded guilty on Thursday in federal court to money laundering and tax evasion charges for defrauding foreign EB-5 investors in the Palm Beach condo-hotel project.
Matthew’s wife Maria “Mia” Matthews also pleaded guilty Thursday to tax evasion in federal court in Bridgeport, Connecticut.
Matthews was the developer of the project at 160 Royal Palm Way that began soliciting EB-5 investment in 2012.
EB-5 is a federal program where investors can get a green card in exchange for investing at least $500,000 in a U.S. enterprise and creating at least 10 jobs. The development group was able to solicit more than $40 million of EB-5 money for the Palm House development.
The development group assured investors that the project would be completed in less than a year and that their money would be protected in an escrow account with a bank. It also claimed that Donald Trump, Bill Clinton and Celine Dion would be on the condo-hotel’s advisory board.
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