SEC Rips Boutique Firm's Bid For $3M From EB-5 Receiver

Law360 (April 3, 2020, 8:55 PM EDT) -- The U.S. Securities and Exchange Commission told a California federal judge that a boutique law firm is trying to get $3 million in fees from the receivership estate for an EB-5 investment fraud scheme simply for getting the receiver appointed.

The SEC did not mince words Thursday in its opposition to a motion by Pritzker Levine LLP for a 10% cut of $29.6 million recovered for foreign investors defrauded by North America 3PL LLC and the San Francisco Regional Center LLC in a scheme that abused the EB-5 visa program.

The firm's only claim to the money is the fact that,...

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