$25.8M Ordered Returned To Defrauded Chinese Investors
Law360 (November 20, 2018, 9:53 PM EST) -- A California federal judge ordered a group of companies and two individuals Monday to pay back a total of $25.8 million the U.S. Securities and Exchange Commission said they fraudulently raised from Chinese investors looking to get green cards through the EB-5 visa program.
U.S. District Judge Percy Anderson's final judgments ordered the disgorgement money and prejudgment interest from Edward Chen, Jean Chen, Home Paradise Investment Center LLC, GH Investment LP, GH Design Group LLC, Golden Galaxy LP and Mega Home LLC. The order also bars the defendants from offering or selling any securities.
The SEC has previously identified Edward Chen...
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