Map_ Sites of EB-5 Visa Fraud and Folly in the United States
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If you have any new information about EB-5 Fraud, plase email bmg@cis.org.
View the full report: https://cis.org/Report/Map-Sites-EB5-Visa-Fraud-and-Folly-United-States
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NameAccusedLocationSummaryDateSourceCIS Report
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Thomas T.M. Ho
Honolulu, HI
Thomas T.M. Ho had to pay $37,500 in disgorgements, $2,500 in back interest and a civil money penalty of $30,000 to SEC.
9/19/2016
https://www.sec.gov/litigation/admin/2016/34-78656.pdf
http://cis.org/north/sec-goes-after-rule-breaking-eb-5-lawyers-batches
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U.S. Attorney Indicts Yet Another Florida EB-5 Regional Center Operator
Karamchand Doobay
Jasper, FL
Karamchand Doobay was sentanced "to 12 years and 7 months in federal prison for conspiracy to commit mail and wire fraud related to a scheme to defraud...immigrant investors in a senior citizen facility..."
8/25/2016
http://cis.org/sites/cis.org/files/ Doobay.pdf, https://www.justice.gov/usao-mdfl/pr/orlando-man-sentenced-more-12-years-scheme-defraud-rv-park-and-immigration-investors
http://cis.org/north/us-attorney-indicts-yet-another-florida-eb-5-region-center-operator
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SEC Case Freezes Assets of Ski Resort Steeped in Fraudulent EB-5 Offerings
Ariel Quiros (Miami) and William Stenger (Newport VT)
Jay, VT
The SEC alleges that Quiros and Stenger and their companies made false statements and omitted key information while raising more than $350 million from EB-5 investors to construct ski resort facilities (some of which were built) and a biomedical research facility in Vermont, which was not built. More specifically, it also charged that Quiros had misappropriated $50 million to cover personal expenses and other non EB-5 matters. A federal court appointed a manager for these properties and froze Quiros' personal holdings including an apartment in Trump Tower in Manhattan.
4/14/2016
https://www.sec.gov/news/pressrelease/2016-69.html
http://cis.org/north/dhs-silent-while-50-million-eb-5-funds-stolen-over-seven-years
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SEC Announces Asset Freeze Against Alleged EB-5 Fraudster in Seattle Area
Lobsang Dargey
Seattle, WA
Lobsang Dargey and his "Path America" companies have raised at least $125 million from EB-5 investors for two real estate projects: a skyscraper in downtown Seattle and a mixed-use commercial and residential development containing a farmers' market in Everett, Washington. The agency said that Lobsang, who identified himself as a former Tibetan monk, used the EB-5 funds "as his personal piggy bank." He was sentenced to four years in Prison.
8/25/2015
https://www.sec.gov/news/pressrelease/2015-173.html, https://www.justice.gov/usao-wdwa/pr/developer-sentenced-4-years-prison-defrauding-investors-seeking-permanent-residency
http://cis.org/north/another-eb-5-scam-dalai-lamas-revenge, https://cis.org/North/Its-About-Time-Two-EB5-Fraudsters-Are-Sent-Jail
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SEC Charges Oil Company and CEO in Scheme Targeting Chinese-Americans and EB-5 Investors
Bingqing Yang, Lei Lei, Anothony Pollace, Youg Chen
San Francisco, CA
[Update: The case was settled and Lei Lei ordered to pay $527,000] The SEC alleges that fundraisers knew that Luca International Group was earning no profits and sinking under a mountain of debt, yet made presentations to EB-5 investors portraying a successful oil and gas operation.
7/6/2015
https://www.sec.gov/news/pressrelease/2015-141.html, https://www.law360.com/articles/1208711/eb-5-scheme-fundraiser-to-pay-527k-in-sec-deal
N/A
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SEC Charges Unregistered Brokers in EB-5 Immigrant Investor Program
Ireeco LLC and Ireeco Limited
Boca Raton, FL
Ireeco LLC, originally of Boca Raton, and its successor Ireeco Limited, a Hong Kong-based company operating in the United States, were charged with acting as unregistered brokers for more than 150 EB-5 investors.
6/23/2015
https://www.sec.gov/news/pressrelease/2015-127.html
http://cis.org/north/sec-cleans-two-eb-5-messes-one-week
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SEC Halts $150 Million Investment Scheme to Dupe Foreign Investors and Exploit Immigration Program
Anshoo R. Sethi
Chicago, IL
The man behind the scam, Anshoo Sethi, now in jail, had told his gullible investors (and the equally gullible U.S. government) that he was investing $177.5 million worth of real estate in the project. However, that investment consisted of a modest motel, occupying two-plus acres near Chicago's O'Hare Airport, that had been purchased by Sethi's family for $10 million, a fact that any of the investors — or any DHS employee — could have discovered in the city's land records. But no one checked until years later.
2/8/2013
https://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171512748
http://cis.org/north/fortunes-peter-elkind-describes-chicago-eb-5-scam-stunning-detail, https://cis.org/North/Its-About-Time-Two-EB5-Fraudsters-Are-Sent-Jail
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Assets Frozen in Alleged Immigration Scam
Lin Zhong (AKA Lily Zhong)
St. Lucie, FL
The Securities and Exchange Commission announced it had obtained a court order freezing the assets of Ms. Zhong and her company. She was accused of purchasing a boat and luxury cars with money she raised from investors seeking U.S. residency through the EB-5 Immigrant Investor Program.
11/19/2015
https://www.sec.gov/litigation/litreleases/2015/lr23409.htm
http://cis.org/north/yet-another-eb-5-promoter-swindles-alien-investors-time-florida
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Michael A. Bander and Bander Law Firm
Miami, FL
Without admitting or denying the SEC’s findings, the following individuals and firms agreed to cease and desist from acting as unregistered brokers: Miami-based Michael A. Bander and Bander Law Firm, who agreed to pay disgorgement of $228,750, prejudgment interest of $19,434, and a penalty of $25,000.
12/7/2015
https://www.sec.gov/news/pressrelease/2015-274.html
N/A
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Mehron P. Azarmehr and Azarmehr Law Group
Austin, TX
Without admitting or denying the SEC’s findings, the following individuals and firms agreed to cease and desist from acting as unregistered brokers: Austin, Texas-based Mehron P. Azarmehr and Azarmehr Law Group, who agreed to pay disgorgement of $30,000, prejudgment interest of $2,965, and a penalty of $25,000.
12/7/2015
https://www.sec.gov/news/pressrelease/2015-274.html
N/A
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Mark A. Ivener and Ivener & Fullmer, LLP
Los Angeles, CA
Mark A. Ivener's penalties were $450,000 (a disgorgement) and $87,855 in interest.
9/19/2016
https://www.sec.gov/litigation/admin/2016/34-78657.pdf
http://cis.org/north/sec-goes-after-rule-breaking-eb-5-lawyers-batches
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Martin J. Lawler
San Francisco, CA
Martin J. Lawler agreed to a disgorgement of $115,000 in commissions and an interest payment of $25,997.
9/19/2016
https://www.sec.gov/litigation/admin/2016/34-78658.pdf
http://cis.org/north/sec-goes-after-rule-breaking-eb-5-lawyers-batches
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Allen E. KayeHoboken, NJ
Without admitting or denying the SEC’s findings, the following individuals and firms agreed to cease and desist from acting as unregistered brokers: Hoboken, N.J.-based attorney Allen E. Kaye.
12/7/2015
https://www.sec.gov/news/pressrelease/2015-274.html
N/A
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Mike S. Manesh and Manesh & Mizrahi
Los Angeles, CA
Without admitting or denying the SEC’s findings, the following individuals and firms agreed to cease and desist from acting as unregistered brokers: Los Angeles-based Mike S. Manesh and Manesh & Mizrahi, who agreed to pay disgorgement of $85,000 and prejudgment interest of $11,159.
12/7/2015
https://www.sec.gov/news/pressrelease/2015-274.html
N/A
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SEC: Lawyers Offered EB-5 Investments as Unregistered Brokers
Taraneh Khorrami
Los Angeles, CA
Without admitting or denying the SEC’s findings, the following individuals and firms agreed to cease and desist from acting as unregistered brokers: Los Angeles-based attorney Taraneh Khorrami, who agreed to pay disgorgement of $60,000, prejudgment interest of $7,843, and a penalty of $25,000.
12/7/2015
https://www.sec.gov/news/pressrelease/2015-274.html
N/A
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SEC Charges New York-Based Immigration Lawyer and His Law Firm with Defrauding Immigrant Investors and Acting as Unregistered Brokers
Hui Feng and Law Offices of Feng & Associates
Flushing, NY
The SEC alleges that Hui Feng and his firm, Law Offices of Feng & Associates P.C., acted as unregistered brokers by selling EB-5 investments to over 100 foreign investors, who were also their legal clients, and that they, directly or indirectly, received over $1.1 million in commissions in connection with these sales and are contractually entitled to at least an additional $3 million in commissions.
12/7/2015
https://www.sec.gov/litigation/litreleases/2015/lr23420.htm
N/A
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Unregistered Broker-dealer
Linda YooBellevue, WA
[Update: Ms. Yoo agreed to pay nearly $280,000 to settle charges that she acted as an unregistered broker] SEC said that Ms. Yoo violated Section 15(a)(1) of the Exchange Act by acting as an unregistered broker-dealer in connection with her representation of clients who were seeking U.S. residency through the EB-5 Immigrant Investor Program.
3/28/2016
https://www.sec.gov/litigation/admin/2016/34-77459.pdf, https://www.seattletimes.com/business/international-trade/bellevue-attorney-settles-sec-case-over-role-in-eb-5-investments/
N/A
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Seattle Company Agrees to Misbehavior "Plea"
American Life, Inc., and its president, Henry G. Liebman
Seattle, WA
The Securities and Exchange Commission has levied a $1 million fine on one of the biggest and longest-established entities in the EB-5 business: American Life, Inc., and its president, Henry G. Liebman.

Liebman was also personally fined $240,000, according to the SEC document that is the record of an agreement between the federal agency and American Life and its leader. This is a civil penalty and the civil version of a plea deal.
6/13/2016
https://www.sec.gov/litigation/admin/2016/34-78042.pdf
http://cis.org/north/sec-lays-1-million-fine-major-eb-5-player
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Chinese Investors Defrauded
Robert Yang, Claudia Kano, and affiliated "Suncor" entities
Fontana, CA
[Update: The accused were ordered to pay $15.5m to SEC] According to the SEC's complaint filed in U.S. District Court for the Central District of California, Robert Yang, MD, Claudia Kano, and their affiliated "Suncor" entities have raised approximately $20 million from 40 EB-5 investors located in China for the development of three "sub-acute nursing care facilities" located in Fontana, Hesperia, and Lynwood, California.
11/27/2015
https://www.sec.gov/litigation/litreleases/2015/lr23414.htm, https://www.law360.com/articles/1116976/doc-manager-must-pay-15-5m-for-alleged-eb-5-scheme
http://cis.org/north/eb-5-gets-another-black-eye-%E2%80%93-maybe-two-them
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Unregistered Broker-Dealer
Roger A. Bernstein
Miami, FL
Bernstein violated Section 15(a)(1) of the Exchange Act by acting as an unregistered broker-dealer in connection with his representation of clients who were seeking U.S. residency through the EB-5 Immigrant Investor Program, according to the SEC. The agency ordered him to disgorge $132,500 plus interest.
12/7/2015
https://www.sec.gov/litigation/admin/2015/34-76570.pdf
N/A
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SEC Halts Texas-Based Scheme Targeting Foreign Investors Seeking U.S. Residency Through EB-5 Visa Program
Marco and Bebe Ramirez
McAllen, TX
The SEC alleges that Marco and Bebe Ramirez and three companies they own have fraudulently raised at least $5 million from investors by falsely promising that their money would be invested as part of the EB-5 Immigrant Investor Program. Instead the moneys were used, in part, to pay off other, non-EB-5-related debts and to buy expensive cars. This as one of the few scams involving EB-5 investors from Mexico.
10/1/2013
https://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539854731
http://cis.org/north/eb-5-program-gets-another-black-eye-time-fbi
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Unregistered Broker-dealer
Kefei WangFremont, CA
Without admitting or denying the SEC’s findings, the following individuals and firms agreed to cease and desist from acting as unregistered brokers: China-based resident Kefei Wang, who agreed to pay disgorgement of $40,000, prejudgment interest of $1,590, and a penalty of $25,000.
12/7/2015
https://www.sec.gov/litigation/admin/2015/34-76574.pdf
N/A
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Defrauded Investors Seeking U.S. Residency
Justin Moongyu Lee
Ulysses, KS
The SEC announced final judgments against a former Los Angeles-based immigration attorney, his wife, his former law firm partner. In addition, Mr. Lee, because of actions taken by the California bar, is no longer able to practice law in that state.
9/4/2014
https://www.sec.gov/litigation/litreleases/2015/lr23410.htm
http://cis.org/north/crooked-eb-5-lawyer-bites-dust-west-dodge-city
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SEC Charges Former CEO and Chairman of Mamtek U.S. with Fraud in the Offer and Sale of Municipal Bonds
Bruce ColeMoberly, MO
[Update: Cole was sentenced to seven years in prison on stealing and securities fraud] Cole was counting on raising millions through the U.S. EB-5 visa program. Mamtek intended to set up its own DHS-licensed regional center to attract Chinese investors for a sucralose plant and other Moberly projects. Cole got in trouble with SEC for fraud in connection with selling municipal bonds, as part of the overall scheme.
9/18/2012
https://www.sec.gov/litigation/litreleases/2012/lr22484.htm, http://www.bloomberg.com/news/articles/2012-01-05/a-missouri-towns-sweet-dreams-turn-sour
http://cis.org/north/eb-5-program-gets-another-black-eye-time-fbi
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U.S. Attorney charged fraud in EB-5 case in northern Virginia
James A. Geisler and James F. O'Connor
Herndon, VA
In one of the earliest EB-5 frauds, Geisler and O'Connor, back in 2001, filed more than 300 false visa applications with the INS, according to the U.S. Attorney for the Eastern District of Virginia. The scheme included fake loan documents to make it appear that investors were investing the required amount when they were only putting up $100,000. The were convicted of fraud and ordered to pay restitution.
3/29/2001
http://articles.baltimoresun.com/2001-03-29/news/0103290066_1_visa-applications-investor-visa-program-visa-fraud
N/A
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Orange County Attorney Charged with Fraud and Money Laundering in Scheme Related to Real Estate Purchases and Other Investments
Stephen Young Kang
Newport Beach, CA
[Update: Kang was sentenced Monday to five years and three months in federal prison] The indictment alleges that the victims wired more than $1 million to Kang in 2011, but Kang failed to invest the EB-5 money as promised.
9/1/2015
https://www.justice.gov/usao-cdca/pr/orange-county-attorney-charged-fraud-and-money-laundering-scheme-related-real-estate, https://www.latimes.com/socal/daily-pilot/tn-dpt-me-0302-lawyer-sentenced-20160301-story.html
N/A
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Fugitive Chinese Official and Former Wife Named In Grand Jury Indictment Charging EB-5 Fraud and Money Laundering
Shilan Zhao and Jianjun Qiao
Newcastle, WA
[Update: Zhao plead guily, Qiao is still a fugative] The divorced couple's scheme involved falsely portraying themselves as still married and lying about the source of Zhao's foreign investment, which was required under the EB-5 immigrant investor program to obtain U.S. immigrant visas, according to the indictment.
3/17/2015
https://www.justice.gov/usao-cdca/pr/fugitive-chinese-official-and-former-wife-named-grand-jury-indictment-charging, https://www.seattletimes.com/seattle-news/crime/chinese-immigrant-who-bought-eastside-home-with-laundered-money-pleads-guilty-to-eb-5-visa-fraud/
http://cis.org/north/us-and-china-collaborate-against-chinese-eb-5-abuser
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SEC asks federal judge to freeze the assets of the Pacific Proton Regional Center
Charles C Liu and Lisa Wong
Laguna Niguel, CA
[Update: The accused were ordered to disgourge $27 million in a case to be reviewed by the Supreme Court] The couple, who run the center, promised that they would create 4,500 new jobs with the construction of a cancer treatment center using a new proton therapy and secured $27 million from EB-5 investors, but instead, they placed $7 million in their own bank accounts and sent $11 million to companies in China; no construction was started.
6/2/2016
http://www.sec.gov/news/pressrelease/2016-105.html, https://www.johnsonfistel.com/sec-disgorgement-faces-high-court-challenge/
http://cis.org/north/eb-5-problems-proliferate-%E2%80%93-here-are-three-new-ones
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Kin of Crooked Korean Kingpin Caught Up in EB-5 Case
J Y Chun and Sang Ah Park
Philadelphia, PA
The DOJ brought Forfeiture in Rem action against an EB-5 limited partnership interest. The basis for the complaint was that an EB-5 investor, Park, who also happened to be the daughter-in-law of former President Chun Doo-hwan (President Chun) of Korea, had made an investment into a Regional Center project with funds traceable to corruption proceeds, and we thus subject to foreclosure.
2/18/2015
https://eb5projects.com/litigation/17
http://cis.org/north/kin-crooked-korean-kingpin-caught-eb-5-case
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Like Flies to Honey, EB-5 Investor Visas Keep Attracting Interesting People
Michael Wang and Wendy Ko
Pasadena, CA
[Update: Judgements ordered Wang to pay $81,130,000 in disgorgement plus $6,506,297.38 in interest, and a civil penalty of $1,500,000, and ordered Ko to pay $1,491,000 in disgorgement plus $119,572.19 in interest, and a civil penalty of $150,000.] The conspirators in this case are Michael Wang and Wendy Ko who are accused by the SEC of running a $150 million Ponzi scheme (in which money from new investors is recycled to pay older ones); in addition to managing the Velocity Investment Group, the two "have been affiliated with Velocity Regional Center based in Pasadena, CA."
12/20/2013
http://eb5news.com/categories/14-investigations/posts/246-sec-halts-150-mio-ponzi-scheme-with-ties-to-eb-5-regional-center, https://www.sec.gov/litigation/litreleases/2018/lr24165.htm
http://cis.org/north/flies-honey-eb-5-investor-visas-keep-attracting-interesting-people
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SEC Charges Lawyer and Her Husband in EB-5 Fraud
Jean Danhong Chen, Tony Jianyun Ye, Kuansheng Chen
San Jose, CA
"The SEC’s complaint alleges that Jean Danhong Chen, Tony Jianyun Ye, and Law Offices of Jean D. Chen, with the assistance of a personal friend, Kuansheng Chen, secured over $10 million in undisclosed commissions by selling EB-5 securities to hundreds of Chen’s legal clients. The complaint also alleges that Jean Chen and Ye secretly acquired and operated an EB-5 regional center, Golden State Regional Center LLC, and later advised clients to invest in the center’s projects without disclosing their ownership interest."

Ms. Chen is a different person than the Jean Chen who is accused in the Commerce CA, case.
10/18/2018
https://www.sec.gov/news/press-release/2018-241, https://www.sec.gov/litigation/complaints/2018/comp24319.pdf
https://cis.org/North/Visit-EB5-World-Same-Old-Same-Old
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Yet Another EB-5 Scandal in California
Edward Chen, Jean Chen
Commerce, CA
The Chens and a cluster of companies they controlled, including a DHS-licensed regional center, Home Paradise Regional Center LLC, diverted many millions of dollars away from EB-5 investments for their own personal use.

Ms. Jean Chen is a different person than the Jean D. Chen who is accused in the San Jose, CA, case.
9/28/2017N/A
https://cis.org/North/Yet-Another-EB5-Scandal-California
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Three Developers Settle Charges of Fraudulent EB-5 Offering
America Modern Green Senior (Houston) LLC, America Modern Green Community (Houston) LLC, and America Modern Green Residential (Houston) LLC
Houston, TX
"Three Houston-area developers agreed to settle charges that they misused investor funds raised from 90 Chinese investors under the EB-5 Immigrant Investor Program on unrelated projects."
12/12/2018
https://www.sec.gov/news/press-release/2018-279
https://cis.org/North/EB5-News
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SEC Charges EB-5 Operator With Securities Fraud
Serofim MuroffBoise, ID
"Serofim Muroff raised more than $140.5 million in EB-5 offerings to Chinese investors through his companies Blackhawk Manager and ISR Capital..."
...
Muroff allegedly misappropriated more than $5 million in investor funds for such unrelated uses as an investment in a zip line operation as well as his purchase of two personal residences, a Range Rover, and a BMW."
4/28/2017
https://www.sec.gov/news/press-release/2017-87
N/A
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SEC Charges Businessman With Misusing EB-5 Investments
Thomas M. Henderson, Kexing Hu, Cooper Lee
San Francisco, CA
"Henderson, assisted by Hu and Lee, allegedly improperly diverted funds raised for one business and used them for other purposes."
1/17/2017
https://www.sec.gov/news/pressrelease/2017-17.html, https://www.justice.gov/usao-ndca/pr/san-francisco-regional-center-owner-charged-110-million-fraud-scheme
https://cis.org/North/Another-110-MillionPlus-EB5-Scandal-and-Three-Indictments
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Businessman Settles Charges of Fraudulent EB-5 Offering
Jason Adam Ogden
Weston, FL
"...[A]ccording to the SEC’s complaint, Ogden changed his business model midstream without updating the offering materials, focusing on developing kiosks in sports arenas and university campuses rather than following through with the construction of full-size stores. Not only did this result in smaller-than-promised returns for investors, but also jeopardized their EB-5 program status..."
12/28/2016
https://www.sec.gov/news/pressrelease/2016-282.html
N/A
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SEC Charges Lawyer With Stealing Investor Money in EB-5 Offerings
Emilio Francisco, Robert Ferrante, Marilyn R. Thomassen
Costa Mesa, CA
"The SEC...collected...$1.9 million in disgorgements and $369,000 in fines from Francisco, as well as $3.8 million in disgorgements from another EB-5 middleman, Robert A. Ferrante (who also paid a $369,000 fine), and a fine of nearly $188,000 from a third person, Marilyn R. Thomassen."
9/27/2018
https://www.sec.gov/news/pressrelease/2016-281.html, https://www.sec.gov/litigation/complaints/2018/comp24336.pdf, https://www.law360.com/articles/1243653/calif-developer-settles-sec-s-eb-5-fraud-claims-for-4-1m
https://cis.org/North/Roundup-Infosys-Moves-Ahead-UK-ACICS-Gets-Pounded-USA-Today-and-SEC-Gets-More-EB5
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SEC Charges Unregistered Broker for Illegally Brokering Sales of EB-5 Securities
Edwin Shaw LLC
New York, NY
"According to the SEC’s order, Edwin Shaw was not registered with the SEC as a broker or dealer when it engaged in the solicitations and otherwise effectuated these securities transactions..."
3/5/2018
https://www.sec.gov/news/press-release/2018-30
N/A
42
Chicago Immigration Attouney Accused of Fraud
Seyed Taher Kameli
Chicago, IL
"Kameli would use an investor’s funds to develop and construct a specific Project, from at least 2010 to the present, Kameli improperly commingled and otherwise improperly used portions of the $88.7 million in investment proceeds that he raised.
...
“Kameli has diverted investor funds from one Project to another and has spent a significant portion of investment proceeds for his own benefit, for the benefit of his brother, and for the benefit of companies he owns."
6/22/2017
https://www.sec.gov/litigation/complaints/2017/comp23866.pdf
https://cis.org/North/EB5-Chutzpah-Indicted-Lawyer-Seeks-Represent-One-His-Victims
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SEC Charges Businessman with Misappropriating EB-5 Investments
Andy Shin Fong Chen, Aero Space Port International Group, Inc.
Renton, WA
"Chen allegedly jeopardized investors' residency prospects when he unlawfully misappropriated virtually all of the approximately $14.5 million he raised from them for his and his family's personal use, ASPI's operating expenses, and several of his other business interests..."
3/15/2017
https://www.sec.gov/litigation/litreleases/2017/lr23778.htm
N/A
44
De Pere Businessman Indicted for $9 Million Green Energy Fraud
Ronald Van Den Heuvel
De Pere, WI
"Van Den Heuvel misappropriated a substantial percentage of the funds contributed by investors."
9/19/2017
https://www.sec.gov/litigation/complaints/2017/comp23938.pdf, https://www.justice.gov/usao-edwi/pr/de-pere-businessman-indicted-9-million-green-energy-fraud
N/A
45
Silicon Valley woman to pay $50M over alleged green card investment scheme
Bethany LiouPalo Alto, CA
"...[I]nstead of deploying those funds to mixed-use development projects in Cupertino as promised, she allegedly transferred the money to accounts in her own name and then pledged it as collateral on personal lines of credit."
11/4/2019
https://www.sec.gov/litigation/admin/2019/33-10725.pdf, https://www.bizjournals.com/sanjose/news/2019/11/06/silicon-valley-woman-to-pay-50m-over-alleged-green.html
N/A
46
Lawyer Is Barred from Appearing and Practicing Before SEC as an Attorney
Steve QiAlhambra, CA
"The SEC's complaint...alleged that Qi and his law firm acted as unregistered brokers in connection with sales of EB-5 investments and defrauded their investor clients by not fully disclosing their receipt of transaction-based compensation."
12/8/2017
https://www.sec.gov/litigation/litreleases/2018/lr24358.htm
https://cis.org/North/DoubleDealing-EB5-Lawyer-Sued-SEC
47
Lawyer was an Unregistered Broker-Dealer
Allen Chi
San Bernadino, CA
Chi was not registered as a broker-dealer or associated with a registered broker-dealer.
8/21/2017
https://www.sec.gov/litigation/admin/2017/34-81447.pdf, https://iiusa.org/blog/sec-enforcement-action-unregistered-broker-dealer-california-eb-5/
N/A
48
Lawyer, Firm Accused of Acting as Unregistered Broker-Dealer
Jason LeeArcadia, CA
Jason Lee and his law firm acted as "unregistered brokers in connection with their representation of clients who were seeking U.S. residency through the Immigrant Investor Program."
5/10/2018
https://www.law360.com/articles/956462/sec-tells-calif-man-to-hand-over-2-6m-in-eb-5-proceeding, https://www.sec.gov/litigation/admin/2018/34-83212.pdf
N/A
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Firm Accused of Entering Agreements with Unregistered Broker-Dealers
Patrick F. Hogan, CMB Export, LLC
Rock Island, IL
"Between 2011 and 2015, CMB Export and Hogan entered into agreements with and paid or caused to be paid transaction-based compensation to unregistered broker-dealers, thereby causing violations of Section 15(a)(1) of the Exchange Act."
9/21/2018
https://www.sec.gov/litigation/admin/2018/33-10559.pdf
N/A
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Two Maryland Men Charged in EB-5 Visa Scheme to Defraud Investors
William B. Hungerford Jr., Timothy O. Milbrath
Gaithersburg, MD
"U.S. Attorney Peter G. Strasser announced that a federal jury returned guilty verdicts against two Maryland men for defrauding victims of over $15 million during the defendants’ operation of the New Orleans EB-5 Regional Center after Hurricane Katrina."


Note: This federal case is linked to a civil complaint based in New Orleans, which is also located on this map.
5/25/2018
https://www.justice.gov/usao-edla/pr/two-maryland-men-charged-eb-5-visa-scheme-defraud-investors, https://www.scammersoff.com/financial-fraud-william-b-hungerford-and-timothy-o-milbrath-found-guilty-of-conspiracy-to-commit-money-laundering-and-six-counts-of-wire-fraud/, https://cis.org/North/New-Orleans-and-EB5-Program-Are-Made-Each-Other
https://cis.org/Cadman/Another-Look-Blossoming-Fraud-Detection-Capacities-Within-USCIS
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Attorney Pleads Guilty to Federal Charges Stemming from $50 Million Scheme that Defrauded the EB-5 Visa Program and Chinese Investors
Victoria Chan
Beverly Hills, CA
"Chan admitted submitting about 130 fraudulent EB-5 visa applications to federal immigration authorities, and many of those applications falsely claimed that the foreign investments were being used to fund construction projects that were creating new jobs."
11/27/2017
https://www.justice.gov/usao-cdca/pr/attorney-pleads-guilty-federal-charges-stemming-50-million-scheme-defrauded-eb-5-visa
N/A
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Real Estate Developer from Palm Beach, Florida Admits Role in Investment Fraud, Bank Fraud, Money Laundering and Tax Evasion Schemes
Robert V. Matthews, Leslie R. Evans
Palm Beach, FL
"Matthews admitted that he and others defrauded EB-5 investors by representing that funds from EB-5 investors would be used to develop the PHH..."
4/25/2019
https://www.justice.gov/usao-ct/pr/indictment-alleges-florida-developer-and-real-estate-attorney-scammed-foreign-investors
https://cis.org/North/Charter-School-Operators-Buy-302-Million-Mansion-EB5-Fraudster
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Clark County Man Pleads Guilty to Fraud Charges for Scheme Involving False Clean Energy Company
Isaac Benjamin Voss
Clark County, WA
"Isaac Benjamin Voss, 41...pleaded guilty...to one count of wire fraud for defrauding domestic and foreign investors who believed they were investing in a viable clean energy company."
3/8/2018
https://www.justice.gov/usao-or/pr/clark-county-man-pleads-guilty-fraud-charges-scheme-involving-false-clean-energy-company
N/A
54
Chinese National Arrested for Conspiring to Illegally Export U.S. Origin Goods Used in Anti-Submarine Warfare to China
Shuren QinWellesley, MA
"A Chinese national was arrested today and charged in connection with violating export laws by conspiring with employees of an entity affiliated with the People’s Liberation Army...as well as making false statements to obtain a visa to enter the United States and to become a lawful permanent resident under the EB-5 Immigrant Investor Visa Program."
6/21/2018
https://www.justice.gov/usao-ma/pr/chinese-national-arrested-conspiring-illegally-export-us-origin-goods-used-anti-submarine
https://cis.org/North/EB5-Investor-Jailed-Sales-Chinese-Navy-and-Mea-Culpa
55
Yet Another Multimillion Dollar EB-5 Scandal Comes to Light
Serofim Muroff, Debra L. Riddle
McCall, ID
The Securities and Exchange Commission announced that its investigation of two EB-5 operators, Serofim (Sima) Muroff and his sidekick, Debra L. Riddle, had led to an agreement in which the two agreed to pay back close to $9 million in restitutions, interest, and fines; they also must get out of the industry.
5/1/2017N/A
https://cis.org/North/Yet-Another-Multimillion-Dollar-EB5-Scandal-Comes-Light
56
New EB-5 Fraud Cases Involves Phony Investment in a Law Firm
Jennifer Yang, Daniel Wu
Palo Alto, CA
"A federal jury convicted Jennifer Yang and her business partner Daniel Wu of conspiracy to defraud the United States and a number of related crimes in connection with a scheme to fraudulently obtain immigration benefits through the government’s “EB-5” visa program..."
10/23/2017
https://www.justice.gov/usao-ndca/pr/owners-south-bay-business-convicted-visa-fraud-conspiracy-and-related-crimes, https://www.docketbird.com/court-documents/USA-v-Yang-et-al/Order-Denying-163-Motion-to-Dismiss-as-to-Jennifer-Yang-1-Denying-165-Motion-to-Dismiss-as-to-Jennifer-Yang-1-Denying-175-Motion-for-Joinder-as-to-Jennifer-Yang-1-Denying-176-Motion-for-Joinder-as-to-Jennifer-Yang-1-Signed-by-Judge-Lucy-H-Koh-on-11-1/cand-5:2016-cr-00334-301513-00221
https://cis.org/North/New-EB5-Fraud-Cases-Involves-Phony-Investment-Law-Firm
57
Chinese EB-5 Applicant with Ties to Iran
Wang Wei
Washington, DC
Wei was charged with money laundering after investing in the Cleveland International Fund - Medical Mart Hotel.
6/19/2018N/A
https://cis.org/North/Three-EB5-Applicants-Ties-North-Korean-Iranian-and-Chinese-Militaries
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