PKF audit verifies accuracy, integrity of CanAm’s EB-5 project and performance figures
New York, NY, March 29, 2023 – All too often, investors seeking cold, hard facts about an EB-5 regional center’s performance are disappointed to find little substance beyond lofty claims and super-sized numbers splashed across glossy marketing materials. By contrast, CanAm Enterprises (“CanAm”) today released an independent, forensic annual audit of its accumulated EB-5 track record, as performed by PKF O’Connor Davis (“PKF”), an internationally recognized accounting firm. PKF’s certified audit confirms that, as of December 31, 2022, CanAm’s EB-5 projects have repaid in excess of $2.19 billion in EB-5 capital, representing investments made by more than 4,400 EB-5 investor-families.
The accounting represents the 5th time CanAm has retained PKF to conduct an audit of CanAm’s EB-5 track record. It’s viewed as an emblem of quality and integrity, or an EB-5 “Good Bookeeping Seal,” to provide investors and industry stakeholders with credible, third-party verification of the accuracy of the company’s publicly disclosed EB-5 information.
“Investor interest is now resurging following a period of lapse and the enactment of reforms to add integrity and accountability protections for investors in the EB-5 program,” said CanAm President and CEO Tom Rosenfeld. “As we welcome new interest with high-quality offerings, CanAm stands by the tried-and-true values that have defined us for the last 35 years – honesty, integrity and transparency in all we do. That includes subjecting our track record to the stress test of an independently verified accounting of our track record. No other regional center puts its record through the rigors of an independent audit, but investors deserve nothing less,” said Rosenfeld, who is also a Certified Public Accountant.
Other key highlights of the PKF audit show:
• Approval of 99.7% of the USCIS adjudicated immigration petitions for CanAm EB-5 projects (I-526 and I-829 petitions).
• $2,196,989,078 in repayments corresponding to 4,414 investor families.
• Less than 0.3% rate of denials for reasons unrelated to the performance of CanAm-sponsored projects.
“For more than 35 years and across close to 65 projects, CanAm has relied on a simple formula – present investors with high quality offerings from best-in-class partners, and the results speak for themselves – $2.19 billion in project repayments to more than 4,400 investor families, and more than 8,000 permanent green cards issued to family members. CanAm is proud of that record and more importantly for investors, proudly verifies its accuracy,” Rosenfeld said.
Please contact us if you would like a copy of the PKF audit summary.
CanAm Enterprises, with over three decades of experience promoting immigration-linked investments in the US and Canada, has a demonstrated track record of success. With over 60 financed projects and $3 billion in raised EB-5 investments, CanAm has earned a reputation for credibility and trust. To date, CanAm has repaid more than $2.26 billion in EB-5 capital from over 4,530 families. CanAm manages several USCIS-designated regional centers that stretch across multiple states. For more information, please visit www.canamenterprises.com.
