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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!