Banking and Finance

Recent Posts

A Chicago Convention Center Settles with the SEC on EB-5 Fraud Case
Posted on 20 Mar 2014 by Yi Song

The Security and Exchange Commission issued a litigation release today announcing the settlement for the biggest fraud in EB-5 history. On March 17, 2014, the United States District Court for the Northern District of Illinois Eastern Division issued the... Read More

SEC Charges Texas-Based Regional Center with Securities Fraud
Posted on 3 Oct 2013 by Mona Shah & Yi Song

On October 1, 2013 the Securities and Exchange Commission (SEC) announced fraud charges in U.S. District Court for the Southern District of Texas against a Texas based EB-5 Regional Center USA Now Regional Center LLC for misappropriating the investment... Read More

SEC Alleges Jay Peak Owners Engaged in Massive Fraud of EB-5 Investors
Posted on 20 Apr 2016 by Omar Hakim

The Securities and Exchange Commission has charged and frozen the assets of Ariel Quiros of Miami, FL, William “Bill” Stenger of Newport, VT, Q Resorts Inc. and Jay Peak Inc. in connection with violations of the antifraud provisions of Section... Read More

SEC Charged Los Angeles-Based EB-5 Lawyers with Securities Fraud
Posted on 4 Sep 2014 by Mona Shah & Yi Song

Los Angeles-based EB-5 attorney Justin Moongyu Lee, and his wife Rebecca Taewon Lee and his law firm partner Thomas Edward Kent were charged by the Securities and Exchange Commission today with securities fraud. Misrepresentation to the Investors ... Read More

SEC Files Another Case Tied to the EB-5 Path to Citizenship Program
Posted on 3 Oct 2013 by Thomas O. Gorman

The EB-5 program is popular among many seeking a path to citizenship in the United States. Created as part of the 1990 Immigration and Nationality Act, it gives foreign nationals two possible paths to citizenship. One provides an opportunity for a green... Read More

How the ACCC Scandal has Disturbed the EB-5 Market in China – Current Market Trends and Updates
Posted on 12 Mar 2013 by Mona Shah & Yi Song

Introduction: On February 6, 2013, the Securities and Exchange Commission (SEC) charged the EB-5 project A Chicago Convention Center (ACCC) and its principal Anshoo R. Sethi with securities fraud. The project was marketed primarily in China, with... Read More

SEC Security Fraud Charges Against Assisted Living Facilities —Should EB-5 Practitioners Be Concerned?
Posted on 18 Dec 2014 by Mona Shah & Yi Song

Assisted living facilities (ALFs) have always been a popular choice for EB-5 investors. On December 3, 2013, the Securities and Exchange Commission (SEC) announced securities fraud charges against top executives at an assisted living facility. What is... Read More