UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Path America & Lobsang Dargey & Path America Sonoco
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vs. | PATH AMERICA, LLC; PATH AMERICA SNOCO LLC; PATH AMERICA FARMER’S MARKET, LP; PATH AMERICA KINGCO LLC; PATH AMERICA TOWER, LP; PATH TOWER SEATTLE, LP; POTALA TOWER and LOBSANG DARGEY |
Filing Date:August 24, 2015
Case:SEC vs PATH AMERICA, LLC, ET AL
Jurisdiction:Federal District Court for the Western District of Washington
Status:Pending
Civil / Criminal:Criminal
Fraud
SEC asserts that the defendants have exploited the EB-5 program to defraud investors seeking investment returns and a path to United States residency. To date, SEC asserts that Defendants have fraudulently raised at least $125 million through their sales of securities to 250 investors and collected at least $11 million in additional fees. The SEC further asserts that investors were provided with a Private Placement Memorandum (“PPM”) that describes the securities offering and states that the offering is designed to provide investors with a path to residency in the United States through the EB-5 Program. However, the Offering Defendants knew, or were reckless in not knowing, at the time investors were provided the PPMs that Defendants’ use of funds contrary to what was disclosed in filings to USCIS put in jeopardy the investors’ EB-5 petitions and ability to obtain residency in the United States
Temporary Restraining Order
SEC Vs. Path America LLC and others
SEC_v._Path_America__REDACTED_FOURTH_STIPULATIO...KHALIL JANJUA v. DONALD NEUFELD
PROCEDURAL ORDER FOR IMMIGRATION MANDAMUS CASES
Immigration_Mandamus_Case_Procedural_Order.pdfAPPEAL OF IMMIGRANT INVESTOR PROGRAM DECISION
US CIS designated the Applicant as a regional center to participate in the program in August of 2013. In August of 2015, the Securities and Exchange Commission (SEC) filed a complaint against the Applicant, its principal, and other related entities in district court. Based on the SEC action, the Chief, Immigrant Investor Program, terminated the Applicant's designation in March 2016, finding that it no longer served the purpose of promoting economic growth. The matter is now before us on appeal. The Applicant submits additional evidence and a letter indicating it is under new management. It states it will promote economic growth by pursuing a previously proposed project.
NOV022016_01K2610.pdfSEC v. PATH AMERICA et al (Lobsang DARGEY) No. 15-01350 (W.D. WA 9-19-2016) Stipulated Motion-Portola Tower
SEC v. PATH AMERICA et al (Lobsang DARGEY) No. 15-01350 (W.D. WA 9-19-2016) Stipulated Motion-Portola Tower
secv-170110201430.pdfSEC v. PATH AMERICA et al (Lobsang DARGEY) No. 15-01350 (W.D. WA 01-10-2017) JOINT STATUS REPORT
SEC v. PATH AMERICA et al (Lobsang DARGEY) No. 15-01350 (W.D. WA 01-10-2017) JOINT STATUS REPORT
secv-170110202637.pdf
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