Securities and Exchange Commission v. Chen et al

  1. August 17, 2022

    Developer Barred From EB-5 Program After SEC Alleged Fraud

    A developer accused of defrauding foreign investors out of $14.5 million has been permanently banned from participating in the EB-5 program, but a Washington federal judge won't make the developer pay prejudgment interest as requested by the U.S. Securities and Exchange Commission.

  2. November 23, 2021

    Wash. Judge Says Co. In EB-5 Fraud Suit Needs Supervision

    A Washington federal judge turned down a development company's bid to stop the court from appointing a receiver to oversee its assets, ruling Tuesday that the company, which misused funds obtained through the EB-5 visa program, still requires supervision.

  3. October 18, 2021

    Developers Hit With $450K In Penalties From Visa Fraud Case

    A development company that raised money through the EB-5 visa program and the company head were ordered to pay $450,000 in penalties after the U.S. Securities and Exchange Commission alleged the cash was funneled to inappropriate uses.

  4. February 15, 2019

    Exec Used EB-5 Cash For BMW, Loans, Wash. Court Holds

    The head of a development company was "'consciously' reckless" when he diverted money raised from investors through the EB-5 visa program so he could make payments on his BMW and issue loans to relatives, misappropriating at least $6.5 million, a Washington federal judge held on Friday.

  5. November 14, 2018

    SEC Fights Bid For Quick Win In $14.5M EB-5 Fraud Case

    The U.S. Securities and Exchange Commission on Tuesday urged a Washington federal court not to toss a case in which a development company and its president face allegations that they scammed Chinese investors out of more than $14.5 million through the EB-5 visa program.

  6. March 15, 2017

    EB-5 Fraudster Bilked Foreign Investors Of $14.5M, SEC Says

    The U.S. Securities and Exchange Commission on Wednesday accused a Washington, D.C.-based development company and its president of using the EB-5 immigrant investor program to scam foreign investors out of $14.5 million.