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
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
Civil / Criminal:Civil
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.
SECURITIES AND EXCHANGE COMMISSION, vs. JUSTIN MOONGYU LEE ET AL.SEC_v_Justin_Lee.pdf
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