UNITED STATES SECURITIES AND EXCHANGE COMMISSION & Chinese investors & South Korean investors vs JUSTIN M LEE, REBECCA TAEWON LEE,THOMAS EDWARD KENT, AMERICAN IMMIGRANT INVESTMENT FUND I LLC, BIOFUEL VENTURE IV LLC, BIOFUEL VENTURE V LLC, NEXLAND INC, NEXLAND INVESTMENT GROUP, NEXSUN ETHANOL LLC
Views: 3096
vs. | JUSTIN M LEE, REBECCA TAEWON LEE,THOMAS EDWARD KENT, AMERICAN IMMIGRANT INVESTMENT FUND I LLC, BIOFUEL VENTURE IV LLC, BIOFUEL VENTURE V LLC, NEXLAND INC, NEXLAND INVESTMENT GROUP, NEXSUN ETHANOL LLC |
Filing Date:September 03, 2014
Case:SECURITIES AND EXCHANGE COMMISSION, vs. JUSTIN MOONGYU LEE ET AL.
Jurisdiction:Federal District Court for the Central District of California
Status:Resolved
Civil / Criminal:Civil
Securities Violations
This case involves a scheme perpetrated by two immigration attorneys. The SEC filed suit for defrauding Chinese and Korean investors claiming that their monies would be invested in a program that met the requirements of the US Government EB-5 visa program. From March 2009 to April 2011, the Defendants raised $11,455,000 from twenty-four investors through three offerings, purportedly for Defendant Nexsun Ethanol, LLC to construct an ethanol plant in Kansas. Rather than investing the monies as promised – and as required for the investors to obtain residency – the Defendants misappropriated at least $7,210,000, or 62.94%, of the total amount raised.
News & Updates
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.
