UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs EB5 Asset Manager LLC, Lin Zhong, et al.
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vs. | EB5 Asset Manager LLC, Lin Zhong, et al. |
Filing Date:November 03, 2015
Case:Securities and Exchange Commission v. EB5 Asset Manager, LLC et al
Jurisdiction:Federal District Court for the Southern District of Florida
Status:Pending
Civil / Criminal:Civil
Fraud
In a civil action filed by the SEC against EB5 Asset Manager, LLC and its owner Lin Zhong in the United States District Court of Southern Florida on November 3, 2015 the SEC alleges that since at least March 2011, Zhong has used several entities that she owns and controls to exploit the EB-5 program, defrauding at least 17 investors out of $8.5 million. See Case 0:15-cv-62323-JAL. U.S. EB-5 Investments LLC, Oakland Office Holdings LLC, and B.X Property Management, among others, are owned and controlled by Zhong and named as relief defendants. The SEC alleges that Zhong has violated Section 17(a) of the Securities Act of 1933 (“Securities Act”), 15 U.S.C. § 77q(a); and Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), 15. U.S.C. § 78j(b), and Exchange Act Rule 10b-5, 17 C.F.R. § 240.10b-5.
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