Analysis

The Latest Milestone In EB-5 Enforcement? Prison Time

Law360, New York (August 10, 2017, 9:18 PM EDT) -- Two people have been handed prison sentences this year in cases over EB-5 visa program fraud, and while it is still possible that more criminal matters could be brought, such cases have the added challenge of needing significant resources and an element of criminal intent, according to attorneys.

So far, 2017 is shaping up to be a notable year for EB-5 fraudsters getting jail time. First, a Chicago-area man who admitted to defrauding Chinese investors out of $160 million through the federal government's EB-5 visa program was sentenced to three years in prison in February.

In that case, Anshoo Sethi pled guilty...

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