October 11, 2019
An oil and gas official accused of fundraising for a visa fraud scheme that targeted Chinese citizens interested in obtaining an EB-5 investor visa will pay $527,000 under an agreement with the U.S. Securities and Exchange Commission.
September 07, 2018
The U.S. Securities and Exchange Commission's claim that a financial aid consultant broke securities law by soliciting investors for an alleged Ponzi-esque visa fraud scheme through an unregistered company will move forward, after a California federal judge denied the commission's and consultant's bids for quick wins Thursday.
June 12, 2018
A former official at Luca International Group LLC accused of helping perpetrate a $68 million Ponzi-esque scheme involving the EB-5 immigrant investor program told a California federal judge on Monday that she doesn't owe authorities disgorgement and civil penalties, saying she was clueless as to the alleged securities violations.
July 27, 2016
Luca International Group LLC agreed Tuesday to a $68 million judgment to end a U.S. Securities and Exchange Commission suit accusing the company and its CEO of running a $68 million "Ponzi-like" scheme that targeted Chinese Americans and Chinese nationals seeking green cards as EB-5 investors.
December 11, 2015
The U.S. Securities and Exchange Commission is scheming to block legal representation for the former CEO of Luca International Group LLC in bankruptcy proceedings stemming from the collapse of her company amid SEC fraud allegations, a lawyer told a California federal court Thursday.
October 13, 2015
A California federal court on Friday granted the U.S. Securities and Exchange Commission's request to freeze the assets of the former CEO of Luca International Group LLC, who is accused of running a $68 million "Ponzi-like" scheme that targeted Chinese-Americans and Chinese nationals seeking green cards as EB-5 investors.
September 28, 2015
Oil explorer Luca International Group LLC's ex-CEO said Friday she has the right to pause a U.S. Securities and Exchange Commission civil action over her alleged $68 million "Ponzi-like" scheme against EB-5 investors, until the outcome of a criminal investigation.
September 18, 2015
The U.S. Securities and Exchange Commission urged a California federal court Thursday not to stay a civil action accusing oil explorer Luca International and former CEO Bingqing Yang of running a $68 million "Ponzi-like" scheme that targeted Chinese-Americans and Chinese nationals seeking green cards as EB-5 investors, saying her request is unwarranted.
August 12, 2015
The U.S. Securities and Exchange Commission won an asset freeze Tuesday against a former Luca International Group LLC vice president, in a suit claiming the oil explorer ran a $68 million "Ponzi-like" scheme targeting Chinese-Americans and Chinese nationals seeking green cards as EB-5 investors.
August 07, 2015
A former executive accused by the U.S. Securities and Exchange Commission of lying to Chinese EB-5 investors as part of a $68 million scheme claimed Thursday that she didn't know the oil operations involved in the alleged plot were losing millions, according to papers filed in California federal court.