A man accused of misusing money related to the federal EB-5 program has pleaded not guilty to all charges.
Joop Bollen faces five class six felony charges of disposing of personal property subject to security interest. He’s accused of taking more than a million dollars from a program offering visas in return for investment money. Bollen pleaded not guilty to all five counts, and is requesting a trial by jury. He is currently out on bond.
Each felony charge carries a maximum punishment of two years in prison and or a four thousand dollar fine. Attorney General Marty Jackley says Bollen is presumed innocent until proven guilty.
Bollen ran the federal EB-5 program in South Dakota at the International Business Institute at Northern State University in Aberdeen. In 2009 the program switched to private administration through Bollen’s company, SDRC, Inc.
Bollen’s arraignment was in Aberdeen. That city was home to a failed beef plant that used EB-5 money.
http://listen.sdpb.org/post/bollen-pleads-not-guilty#stream/0
Mentions
States
- South Dakota
Videos
Subscribe for News
Site Digest
Join Professionals on EB5Projects.com →
Securities Disclaimer
This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.
