Wash. Atty To Pay SEC Fine Over Immigrant Investment Help

Law360, Washington (March 28, 2016, 9:04 PM EDT) -- A Washington state immigration attorney has agreed to a more than $278,000 settlement with the Securities and Exchange Commission after acting as an unlicensed investment broker and receiving commissions for helping clients invest in the government’s EB-5 Immigrant Investor Program, the agency said Monday.

Announcing that it had accepted a settlement offer from 51-year-old attorney Linda Yoo, the SEC said in an administrative proceeding order that the Bellevue-based attorney had violated the Securities Exchange Act of 1934 by encouraging and coordinating IIP investment despite the fact that she was not licensed to do so.

Created by Congress in 1990, the Immigration...

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