A California doctor, his business partner, and companies connected to them must pay the SEC more than $4.3 million combined in disgorgement and interest for an alleged nursing care investment scam, a federal judge said.
Robert Yang, Claudia Kano, and their companies owe the Securities and Exchange Commission after the agency accused them of raising around $20 million from Chinese investors for sub-acute nursing care facilities and diverting “substantial portions” for their own and other uses, according to the U.S. District Court for the Central District of California order.
Yang and Kano allegedly told the investors they would qualify ...
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