September 28, 2018
A California lawyer accused of cheating EB-5 immigrant investors out of millions has agreed to pay more than $2 million to settle claims that he illegally used the money to support his businesses and lifestyle, the U.S. Securities and Exchange Commission told a federal judge Thursday.
June 14, 2017
A California federal judge has kept alive the U.S. Securities and Exchange Commission's securities fraud suit against a California lawyer accused of cheating 135 EB-5 immigrant investors out of $9.5 million, ruling Tuesday that the agency had tightened up its claims enough to survive a dismissal challenge.
May 19, 2017
Newport Beach, California, lawyer Emilio Francisco continued to fight off allegations from the U.S. Securities and Exchange Commission that he defrauded at least 135 EB-5 immigrant investors out of $9.5 million, telling a California federal court on Thursday the agency fails to spell out details of purported misrepresentations.
April 04, 2017
A California federal judge on Tuesday granted an attorney's bid to toss accusations brought by the U.S. Securities and Exchange Commission that he stole $9.6 million from foreigners participating in the EB-5 immigrant investor program, but the judge gave the agency a month to shore up its allegations.
March 21, 2017
The U.S. Securities and Exchange Commission has shot back at a bid by an attorney to toss accusations that he stole $9.6 million from foreigners participating in the EB-5 immigrant investor program, saying the court already denied his arguments when it issued an asset freeze.
January 24, 2017
An attorney accused by the U.S. Securities and Exchange Commission of stealing $9.6 million from foreigners participating in the EB-5 immigrant investor program has been hit with a California federal court injunction freezing his assets and barring him from destroying evidence.
January 03, 2017
A California-based attorney stole at least $9.6 million from investors in China who sought to obtain green cards by investing in the federal government's EB-5 immigrant investor program, the U.S. Securities and Exchange Commission has alleged.