UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs USA Now Regional Center, LLC
Filing Date:October 01, 2013
Case:SEC v. Marco A. Ramirez, et al.
Jurisdiction:Federal District Court for the Eastern District of Texas
Civil / Criminal:Civil
In the case, SEC v. Marco A. Ramirez, et al., the SEC and USCIS worked together to stop an alleged investment scam in which the SEC claims that the defendants, including the USA Now regional center, falsely promised investors a 5% return on their investment and an opportunity to obtain an EB-5 visa. The promoters allegedly started soliciting investors before USCIS had designated the business as a regional center. The SEC alleged that while the defendants told investors their money would be held in escrow until USCIS approved the business as eligible for EB-5, the defendants misused investor funds for personal use such as funding their Cajun-themed restaurant. According to the SEC's complaint, the investors did not obtain even conditional visas as a result of their investments through the USA Now regional center.
SEC v. Marco A. Ramirez, et al. ComplaintSEC_v_Marco_Ramirez.pdf
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