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Visa Fraud

This archive displays posts tagged as relevant to fraud in visa programs. You may also be interested in the following pages:

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March 5, 2018

The SEC charged a Edwin Shaw LLC with illegally brokering dozens of investments by foreign nationals seeking U.S. residency. Between April 2014 and March 2017, Edwin Shaw solicited foreign nationals to invest in securities issued by a taxi and limousine company based in Queens, New York.  The investments were marketed to investors interested in applying for legal residency through the federal government’s EB-5 Immigrant Investor Program, which provides a path to legal residency for foreigners who invest directly in a U.S. business or private “regional centers” that promote economic development in specific areas and industries. Edwin Shaw agreed to a cease-and-desist order and agreed to pay disgorgement of $400,000 plus prejudgment interest of $54,209.20 and a penalty of $90,535. SEC

February 2, 2018

The Securities and Exchange Commission today announced that the Miami-based businessman behind an alleged scheme involving investments in a Vermont-based ski resort has agreed to pay back more than $81 million of investor money that he used illegally. According to an SEC complaint filed in 2016 in federal court in Miami, Ariel Quiros allegedly misused more than $50 million in investor funds to purchase a different ski resort and to fund personal expenses such as income taxes and two luxury New York City condominium purchases. Investors were told their money would specifically be used for construction projects at the Jay Peak Resort and a nearby proposed biomedical research facility. Companies owned by Quiros also allegedly failed to contribute approximately $30 million in investor funds toward Jay Peak construction, with two projects going uncompleted. This jeopardized investors' investments as well as their participation in the EB-5 Immigrant Investor Program under which Quiros and his businesses solicited the money. SEC

In Their Own Words -- Painter

Posted  05/8/17

-- “They clearly imply that the Kushners are going to make sure you get your visa.”

Richard Painter, former White House ethics lawyer under President George W. Bush commenting on the presentation by Nicole Kushner Meyer, Jared Kushner’s sister, to Chinese investors regarding investment in Kushner companies.

In a Beijing Ballroom, Kushner Family Pushes $500,000 “Investor Visa” to Wealthy Chinese

Posted  05/8/17
By the C|C Whistleblower Lawyer Team Over the weekend reports emerged of a presentation by Nicole Kushner Meyer, sister of White House senior advisor Jared Kushner, to wealthy Chinese investors. Ms. Meyer was urging Chinese citizens to invest in Kushner companies in order to obtain an EB-5 visa. This is not the first time the Kushner companies have been linked with Chinese investors and EB-5 visas. The EB-5 visa...

April 11, 2017

Argentine information technology and consulting firm Sistemas Globales S.A. agreed to pay $1 million to settle charges that it and its corporate affiliates, including U.S. affiliate Globant LLC, violated the False Claims Act and the Program Fraud Civil Remedies Act relating to Globant’s use of B-1 visas for certain of its foreign national employees. DOJ (NDTX)

Whistleblowers Help Uncover EB-5 Visa Fraud

Posted  04/17/17
By the C|C Whistleblower Lawyer Team Approximately two weeks ago on April 5, authorities raided a business run by a California attorney and her father under suspicion of orchestrating a $50 million EB-5 visa scheme. The father and daughter owned a company called California Investment Immigration Fund LLC (“CIIF”). CIIF raised money from over one hundred Chinese investors for business projects. Under the EB-5...

$150 Million Settlement Announced in Vermont Ski Resort Fraud Case

Posted  04/14/17
By the C|C Whistleblower Lawyer Team A year after the owner and president of a Vermont ski resort were accused by the state and the SEC of massive fraud, a $150 million settlement has been reached with Raymond James Financial Inc., which is the financial institution allegedly at the heart of the fraud. The federal receiver overseeing Jay Peak ski resort said the settlement agreement will be filed in court next...

Kushner Cos Stands to Gain Millions from EB-5 Investors

Posted  03/16/17
By the C|C Whistleblower Lawyer Team Given the Trump administration’s stance on immigration—both legal and unauthorized—and the President’s professed wariness of the People’s Republic, it comes as some surprise that Trump son-in-law and senior advisor Jared Kushner stands to gain millions from an anticipated partnership with Chinese company Anbang Insurance Group. Still more surprising is the related...

January 17, 2017

The SEC announced fraud charges against Thomas M. Henderson, an Oakland, California-based businessman accused of misusing money he raised from investors through the EB-5 immigrant investor program.  The SEC alleges that Henderson and his company San Francisco Regional Center LLC falsely claimed to investors that their $500,000 investments would help create at least 10 jobs within several distinct EB-5 related businesses Henderson created, including a nursing facility, call centers, and a dairy operation.  But according to the SEC’s complaint, Henderson jeopardized investors’ residency prospects and combined the $100 million he raised from investors into a general fund from which he allegedly misused at least $9.6 million to purchase his home and personal items and improperly fund several personal business projects.  Henderson also allegedly improperly used $7.6 million of investor money to pay overseas marketing agents, and shuffled millions of dollars along the EB-5 business to obscure his fraudulent scheme.  SEC

December 28, 2016

Florida-based businessman Jason Adam Ogden has agreed to pay more than $1.2 million to settle charges that he misused investor funds intended to create U.S. jobs through the EB-5 Immigrant Investor Program.  The SEC alleged that Ogden, the CEO of a pair of smoothie and frozen yogurt franchises called Juiceblendz and Yoblendz, formed AJN Investments LLC to conduct an investment offering in conjunction with the EB-5 program which provides foreign investors a path to permanent residency when their investments create at least 10 jobs for American workers.  Investors were allegedly told that their money would help build and operate Juiceblendz and Yoblendz stores in strip malls and create a sufficient amount of jobs for them to qualify for an EB-5 visa and ultimately a green card.  But, according to the SEC’s complaint, Ogden changed his business model midstream without updating the offering materials, and focused on developing kiosks in sports arenas and university campuses rather than following through the construction of full-size stores.  Not only did this result in smaller-than-promised returns for investors, it also jeopardized their EB-5 program status because kiosks don’t stimulate the same job creation as full-size stores and construction projects.  The SEC further alleged that Ogden improperly siphoned off more than $1 million in investor funds for his personal use, making undisclosed cash transfers to his bank account.  SEC


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