Illinois Man, Firms to Pay $15.4 Million To Settle SEC Case Alleging EB-5 Fraud

An Illinois man and two of his companies will disgorge $11.5 million in proceeds and pay a total of $3.9 million in civil penalties under a March 17 federal consent judgment settling a Securities and Exchange Commission lawsuit brought last year (SEC v. A Chicago Convention Ctr., LLC).

Under the judgment entered by Judge Amy J. St. Eve of the U.S. District Court for the Northern District of Illinois, Anshoo Sethi and his companies A Chicago Convention Center LLC and Intercontinental Regional Center Trust of Chicago LLC are jointly and severally liable for disgorgement of $11.5 million in ...