The U.S. Securities and Exchange Commission on Monday ordered a California man to pay roughly $2.6 million in disgorgement and interest after it found that he assisted the purchases of company membership interests by Chinese investors seeking to participate in the EB-5 visa program but wasn’t registered as a broker-dealer.
Allen Chi of Arcadia, California, was ordered to pay disgorgement of $2,401,693, which represented “transaction-based” compensation, as well as prejudgment interest of roughly $245,789, which will be distributed to “injured investors,” according to the SEC decision
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