SEC Sues Calif. Couple on Investor Visa Offerings Fraud

A California-based couples’ assets were frozen May 31 in connection with Securities and Exchange Commission allegations they misused millions of dollars raised through investments made to purportedly build a new cancer treatment center solicited under the EB-5 Immigrant Investor Program (SEC v. Liu, C.D. Cal., 8:16-cv-00974, 5/26/16).

The move is part of the agency’s increased focus on EB-5 investments in the past several years. In April, the agency sued a Vermont ski resort’s owners for similar alleged misconduct 73 SLD, 4/15/16, 73 CARE, 4/15/16, See previous story, 04/15/16, 48 SRLR 806, 4/18/16. That focus will continue, given the recent rise ...