Bloomberg Law
April 20, 2022, 8:28 PMUpdated: April 20, 2022, 10:08 PM

Florida Man Sentenced for Role in Investor Visa Fraud Scheme (1)

Andrew Kreighbaum
Andrew Kreighbaum

A Florida man who took part in a scheme to defraud immigrant investors was sentenced to 18 months in prison and ordered to pay $8.3 million in restitution following a guilty plea last year, the Department of Justice announced Wednesday.

William Kelly, 73, pleaded guilty in June to conspiracy to commit wire fraud in connection with his role in AnC Vermont, an EB-5 regional center that raised $85 million in funds and $8 million in administrative fees from investors to build and operate a biotechnology facility in Newport, Vt.

Immigrants who invest a minimum amount in a U.S. business and ...