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EB-5 Center's Boss Must Cede Assets In SEC Row: 5th Circ.

Law360, New York (April 1, 2015, 5:35 PM EDT) -- The Fifth Circuit denied a petition for writ of mandamus Wednesday by a man held in civil contempt for failing to comply with an asset turnover order after the U.S. Securities and Exchange Commission sued him for securities fraud in connection with his EB-5 regional center, ruling his arguments lacked merit.

In a per curiam decision, the three-judge panel said that the district court’s decision to issue the turnover order for Marco Ramirez — who ran the company USA Now, a regional center for the EB-5...
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