LexisNexis® Legal Newsroom
SEC Sues Chicago EB-5 Regional Center, Anshoo Sethi: Massive Fraud Alleged

"The Securities and Exchange Commission today announced charges and an asset freeze against an individual living in Illinois and two companies behind an investment scheme defrauding foreign investors seeking profitable returns and a legal path to U.S. residency through a federal visa program."...

USCIS EB-5 Engagement with the SEC, Wednesday, April 3, 2013 @ 3 p.m. (Eastern)

"U.S. Citizenship and Immigration Services (USCIS) and the Securities and Exchange Commission (SEC) invite interested individuals to participate in a stakeholder teleconference to discuss the EB-5 Immigrant Investor program. During the engagement, subject matter experts from the SEC will discuss...

SEC Clears Way (with Strict Rules) to Attract EB-5 Immigrant Investors

On July 12, 2013 Bernard P. Wolfsdorf and Adam Francoeur wrote : " Following the April passage of the Jumpstart Our Business Startups Act (“JOBS Act”), the Securities and Exchange Commission (SEC) announced the elimination of the ban against general solicitation for Regulation D offerings...

USCIS EB-5 Engagement with the Securities and Exchange Commission: Executive Summary

"On April 3, 2013, U.S. Citizenship and Immigration Services (USCIS) hosted a stakeholder teleconference featuring staff from the Securities and Exchange Commission (SEC) to discuss the EB-5 Immigrant Investor program. During the engagement, subject matter experts from the SEC’s divisions...

SEC and USCIS Warn of EB-5 Investor Visa Scams

"The U.S. Securities and Exchange Commission's ("SEC") Office of Investor Education and Advocacy and U.S. Citizenship and Immigration Services ("USCIS") are aware of investment scams targeting foreign nationals who seek to become permanent lawful U.S. residents through the...

SEC Halts Texas-Based Scheme Targeting Foreign Investors Seeking U.S. Residency Through EB-5 Visa Program

"The Securities and Exchange Commission today announced fraud charges against a husband and wife in Texas for stealing funds from foreign investors under the guise of an investment opportunity to create U.S. jobs and a path to U.S. residency. The SEC alleges that Marco and Bebe Ramirez and three...

News Excerpts From The Nov. 1, 2013, Bender’s Immigration Bulletin

Government Shutdown: Impact on I-129 H Visa Extensions and AOS | Via e-Mail on October 18, 2013, USCIS alerted stakeholders that if an H-1B, H-2A, or H-2B petitioner submits evidence establishing that the primary reason for failing to timely file an extension of stay or change of status request was...

SEC Obtains Settlements in $150 Million EB-5 Immigrant Investor Offering Fraud

"On March 17, 2014, the U.S. District Court entered a consent judgment against defendants Anshoo R. Sethi, A Chicago Convention Center, LLC (ACCC) and Intercontinental Regional Center Trust of Chicago, LLC (IRCTC) for their roles in raising approximately $158 million dollars from close to 300 investors...

SEC Says Oil Co. Targeted EB-5 Investors In $68M Scheme - Law360

Law360, Los Angeles (July 6, 2015, 10:24 PM ET) -- "The U.S. Securities and Exchange Commission on Monday accused a Bay Area oil and gas company and its CEO of running a $68 million "Ponzi-like" scheme that targeted the Chinese-American community and Chinese nationals hoping to get a green...

SEC Charges EB-5 Fund Operators and Finders - Seyfarth Management Alert, July 13, 2015

"The Securities and Exchange Commission (the “Commission” or “SEC”) has become increasingly active in enforcing alleged violations of U.S. securities laws arising under the EB-5 Immigrant Investor visa program. EB-5 transactions — which are designed to result in the...

SEC Issues Cease and Desist Order To EB-5 Investment Companies: Matter of Ireeco

"]T]he U.S. Securities and Exchange Commission (SEC) issued a Cease and Desist Order ( the “Order” ) against two related companies for acting as unregistered broker-dealers in connection with the sale of securities under the “EB-5” Investor Program ( also sometimes referred...

SEC Granted TRO in Wa. EB-5 Regional Center Lawsuit: SEC v. Path America

Here is a link to a PDF combining the Complaint (pages 1-17) and the TRO (pages 18-27) issued Aug. 24, 2015 in SEC v. Path America, No. 2:15-cv-01350-JLR, W.D. Wa. Excerpts: "Since February 2012, defendants Lobsang Dargey; Path America, LLC; Path America SnoCo LLC; Path America Farmer’s...

SEC Announces EB-5 Enforcement Actions

SEC, Dec. 7, 2015 - "The Securities and Exchange Commission today announced a series of enforcement actions against lawyers across the country charged with offering EB-5 investments while not registered to act as brokers."

SEC Case Freezes Assets of Ski Resort (Jay Peak) Steeped in Fraudulent EB-5 Offerings

SEC, Apr. 14, 2016 - "The Securities and Exchange Commission today announced fraud charges and an asset freeze against a Vermont-based ski resort and related businesses allegedly misusing millions of dollars raised through investments solicited under the EB-5 Immigrant Investor Program. The SEC’s...

News Excerpts From the July 1, 2016, Bender’s Immigration Bulletin

Colorado Repeals Employment Verification Requirement | On June 8, 2016, Colorado Gov. John Hickenlooper signed a bill (House Bill 16-1114) repealing a state requirement that employers maintain a separate affirmation form and retain copies of documents presented when newly hired employees complete...

Expert: Jay Peak EB-5 Litigation 'Most Noteworty'

"Trouble at Jay Peak: SEC v. Ariel Quiros - The suit is perhaps the most high-profile case to date regarding the EB-5 visa program, which gives green cards to immigrants who invest $500,000 and create new jobs in the U.S. But the suit is far from the only controversy surrounding EB-5, as the SEC...