EB-5 lawsuit settled in South Dakota Supreme Court

A lawsuit stemming from the EB-5 program has ended with a settlement.

The company that provided more than $30 million to build the Deadwood Mountain Grand Casino and Hotel went to court to recover the money.

The lawsuit stems from a federal government program known as EB-5 or employment-based fifth preference visa. If foreigners invest at least $500,000 in a U.S. project that creates jobs. They can earn a visa and eventually a green card for themselves and their families.

The investors say the limited liability company that developed the Deadwood casino never repaid the money. Both parties have reached an agreement but the settlement is confidential.

"We litigated in federal court for a while, we finished Supreme Court oral arguments and through that process, the parties were able to flush out and work together to amicably reach a resolution of the matter," said Kasey Olivier, Tentexkota LLC attorney.

The hotel and casino in Deadwood is still open to the public.