Defrauded EB-5 Investors May Take Bank Negligence Claims to Jury

U.S. Bank NA failed to convince a federal judge in Seattle that its decision to disburse tens of millions of dollars in investments from Chinese citizens seeking EB-5 visas wasn’t grossly negligent as a matter of law.

Whether U.S. Bank exercised an appropriate standard of care or was the proximate cause of the investors’ injuries aren’t appropriate issues to be resolved on a motion for summary judgment, Judge Ricardo S. Martinez said Wednesday for the U.S. District Court for the Western District of Washington.

The plaintiffs in this case each invested $500,000 in one of Quartzburg’s Gold LP’s mining ventures, ...