A federal judge has halted plans to construct the "world's first zero-carbon-emission platinum LEED-certified" hotel and conference center in Chicago after a federal suit accused its developer of fraudulently selling more than $145 million in securities and $11 million in fees to foreign investors.
In a suit filed in February, the U.S. Securities and Exchange Commission alleges Anshoo Sethi, the Intercontinental Trust Center of Chicago and the Chicago Convention Center "perpetuated a large-scale investment scheme to exploit a federal visa program as a means to defraud investors seeking strong returns and a legal path to U.S. residency."