Ex-Oil Co. VP Fights SEC Disgorgement Bid Over EB-5 Scam
A former official at Luca International Group LLC accused of helping perpetrate a $68 million Ponzi-esque scheme involving the EB-5 immigrant investor program told a California federal judge on Monday that she doesn’t owe authorities disgorgement and civil penalties, saying she was clueless as to the alleged securities violations.
Lei "Lily" Lei, the Bay Area oil and gas company’s one-time vice president of business development, opposed a bid for summary judgment by the U.S. Securities and Exchange Commission that also seeks $544,251 in disgorgement and prejudgment.
https://www.law360.com/articles/1052985/ex-oil-co-vp-fights-sec-disgorgement-bid-over-eb-5-scam
Mentions
Litigation Cases
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Luca Energy Fund Regional Center & BingQing Yang
States
- California
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