Father-daughter duo accused on $50 million EB-5 scam
Federal authorities, on April 5, 2017, raided a business run by a California attorney and her father suspecting them of orchestrating a $50 million EB-5 visa scam. According to the court filings, their company, California Investment Immigration Fund, LLC (CIIF), raised money from more than 100 Chinese investors. Under the EB-5 program, these investors would qualify for U.S. green cards if the business projects created at least ten jobs. However, rather than legitimately investing the funds, CIIF hired high school students to pose as full-time employees for fake projects and used the investors’ money to buy their own personal luxury items, including million-dollar homes, and for other improper uses.
Mentions
- California Investment Immigration Fund (CIIF)
- U.S. Citizenship and Immigration Services
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION
- Luca International Group, LLC
- Ireeco Limited
- Emilio N.Francisco
- Caffe Primo San Diego
- Lobsang Dargey
- DARGEY
- Path America
- San Francisco Regional Center
- Pacific Proton Therapy Regional Center
- Beverly Proton Center
- Tom Henderson
Litigation Cases
- Federal Bureau of Investigation vs California Investment Immigration Fund (CIIF)
- Alan Young vs San Francisco Regional Center & Tom Henderson
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Emilio N.Francisco & PDC Capital Group
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Pacific Proton Therapy Regional Center
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Path America & Lobsang Dargey & Path America Sonoco
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Luca Energy Fund Regional Center & BingQing Yang
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Ireeco Limited
States
- New York
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.
