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

Tagged in: Securities Fraud, Visa Fraud,