By Rae Ann Varona (July 12, 2022, 7:52 PM EDT) — A last-minute agreement let a Florida commercial project developer avoid a class action trial set to begin Tuesday over allegations that he fraudulently solicited funds from immigrant investors through a $100 million visa scheme.
The project’s developer, Nicholas Mastroianni and the two lead plaintiffs, Chinese citizens Ting Peng and Lin Fu, told a Florida federal court on Monday that they had reached a resolution to settle all class claims and counterclaims, and that they would file the details of their settlement with the court for approval within 45 days.
“The parties are drafting a comprehensive settlement agreement that memorializes all pertinent terms…
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