Chicago man awaits sentencing in federal visa fraud case
A man who's pleaded guilty to wire fraud awaits sentencing in what authorities describe as a scheme to defraud foreign investors into backing a convention complex by O'Hare International Airport.
Anshoo Sethi of Chicago could be sentenced this week.
Federal authorities allege fraudulent documents were used to raise millions from mostly Chinese investors who believed they'd get U.S. residency in return. The case involves the EB-5 visa program, which allows foreign investors green cards.
Sethi's attorney tells The Chicago Sun-Times Sethi was misled by consultants and he's refunded $145 million.
Authorities insist Sethi was "indisputably" in charge.
The newspaper also reports Sethi's links to public officials, including a former alderman. Sethi also hired House Speaker Michael Madigan's tax firm. Firm officials say Sethi was dropped as a client once authorities began investigating.
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION vs Intercontinental Regional Center Trust of Chicago
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