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“Your only opportunity to get rich in America”: Inside LA’s deceptively simple $50M EB-5 scam

“Your only opportunity to get rich in America”: Inside LA’s deceptively simple $50M EB-5 scam

EB-5 Visa, EB5 Visa, EB-5 Investment

It’s a paint-by-numbers approach to defrauding real estate investors.

Federal agencies raided the homes and office of a California attorney and her father Wednesday, amid an investigation into whether the two perpetrated a multi-million-dollar fraud scheme. Victoria and Tat Chan allegedly took money from roughly 100 Chinese investors through the EB-5 visa program — but never actually invested it on their behalf.

Instead, the Chans allegedly used the funds to buy luxury homes for themselves throughout Southern California.


Source: https://therealdeal.com/la/2017/04/10/your-only-opportunity-to-get-rich-in-america-inside-las-deceptively-simple-50m-eb-5-scam/

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