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SEC Sues Immigration Atty Over EB-5-Related Commissions

Law360, New York (December 8, 2017, 10:30 PM EST) -- The U.S. Securities and Exchange Commission on Friday slapped an immigration attorney and his law firm with a fraud lawsuit in California federal court, claiming that they didn’t disclose to clients that they were getting commissions related to their EB-5 visa program investments.

The SEC claims immigration lawyer Steve Qi, along with his law offices, sold regional centers EB-5 investments to his own legal clients, while receiving “transaction-based” payments from the centers if their clients invested in the offerings.

In all, they got at least $1.6 million in transaction-related compensation from no less than six regional centers for “referring dozens of...

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California Central

Nature of Suit

Securities/Commodities

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Date Filed

December 8, 2017

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