Idaho Man To Pay Feds $8M For EB-5 Investment Fraud

By Kelly Knaub (April 28, 2017, 6:20 PM EDT) -- The U.S. Securities and Exchange Commission announced on Friday that an Idaho man has agreed to pay the federal government nearly $8 million for allegedly misappropriating money from Chinese investors for personal use instead of investing it in the EB-5 immigrant investor program.

Serofim Muroff and his companies have agreed to pay disgorgement of $5,062,082 plus interest totaling $865,270 and a $2 million penalty, the agency said in a press release. Muroff is CEO of Blackhawk Manager and the Idaho State Regional Center and principal of ISR Capital and Equity Recap, according to a suit the agency filed concurrently against Muroff...

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