Published on: September 15, 2025, 06:10h.
Updated on: September 15, 2025, 06:10h.
- Investors claim deception and EB-5 visa fraud
- Lawsuit alleges $64 million loaned without protection for repayments
- Casino venture promised jobs and tourism but never commenced
A proposed $130 million “Titanic-inspired resort and casino” on Tinian Island has encountered more issues than the ship that served as its muse. At least the Titanic progressed beyond concept designs.
Ten years after the introduction of the “Tinian Ocean View Resort and Casino” to potential investors, there has been no construction on Tinian, located in the U.S. Northern Mariana Islands in the western Pacific, just north of Guam.
Failed Before Debut
Initially advertised as a financial boost for Tinian, the anticipated jobs and tourism have yet to materialize.
Currently, a group of 23 Chinese investors has initiated a $13.4 million lawsuit in the New York State Supreme Court, alleging they have been wronged, according to Marianas Variety. They assert that the project never commenced due to false commitments, mismanagement, and misrepresentation from the developer.
Furthermore, the investors were promised that their EB-5 contributions would grant them green cards by generating jobs in the Northern Mariana Islands, a U.S. territory. Unfortunately, the anticipated development never occurred, nor did the visas.
The EB-5 program allows foreign nationals to obtain permanent residency in the U.S. by investing at least $800,000 in U.S. projects that create a minimum of 10 jobs.
The developer named in the lawsuit is Bridge Investment Group LLC, distinct from the publicly traded private equity firm based in Utah, known as Bridge Investment Group Holdings Inc., which bears no association with the allegations.
The plaintiffs, all involved with the American Northern Marianas Economic Development Fund LLC, argue that the defendants breached multiple legal obligations and misled them to secure investments linked to the EB-5 visa initiative.
The investment proposal claimed that nearly $12.1 million from these 23 plaintiffs (alongside significantly larger investments from other Class B investors) would fund a 300-room casino resort featuring two hotels (one “luxury” and one “mid-range”), retail and dining spaces, convention facilities, spa services, and even ferry operations.
Collectively, it’s claimed the fund funneled around $64 million to Bridge Investment Group, as outlined in the lawsuit.
However, these loans were issued without formal agreements, repayment guarantees, or collateral, according to the lawsuit. The plaintiffs assert that the gambling license was not provided as security for financing. The lawsuit contends that without bank loans or refinancing, the project’s failure was predetermined from the outset.
‘Unfulfilled Promises’
The complaint also refers to promotional messages circulated via WeChat and through Canbo International Group, a Hong Kong-based immigration consultancy, which allegedly assured swift visa approvals and portrayed nonexistent construction progress.
In August 2023, Canbo abruptly closed a group chat for investors after U.S. immigration officials issued notices to revoke previously approved petitions. The plaintiffs argue this was an attempt to terminate inquiries as the project collapsed.
The lawsuit further emphasizes issues with the EB-5 job-creation model, indicating that Tinian’s limited local workforce and reliance on imported materials made it implausible for the project to meet the requirement of 10 jobs per investor.
Among those named in the lawsuit are Xianjun Meng, managing director of the American Northern Marianas Regional Center (ANMRC) and CEO of Bridge Investment Group LLC; his spouse Silvia Siu (also known as Xiao Bing); and two attorneys from New York, Jin An and Samuel Newbold. Meng and Siu also hold principal roles at Canbo International Group Ltd., a Hong Kong-based immigration consultancy.
The plaintiffs are pursuing claims for breach of fiduciary duty, fraud, conversion, unjust enrichment, legal malpractice, and negligent misrepresentation, seeking the return of their investments, alongside damages.
The defendants have yet to respond to the lawsuit.