- Associated Press - Tuesday, March 14, 2017

PIERRE, S.D. (AP) - South Dakota has settled two civil lawsuits for roughly $1.5 million with a private company that handled the state’s investment-for-visa program.

Gov. Dennis Daugaard’s office said Tuesday the lawsuits sought to enforce the state’s contract with SDRC Inc. and to recover expenses the Board of Regents incurred from a California arbitration case.

The governor’s office says SDRC must immediately pay nearly $550,000 to the state, and another $81,000 by September 2019.

The state has separately recovered nearly $900,000 in indemnification funds owed by SDRC. An attorney for the company didn’t immediately return a telephone message requesting comment.

Joop Bollen, who once led South Dakota’s participation in the EB-5 visa program, recently reached an agreement with prosecutors in a financial misconduct case.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide