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Investor Claiming Phony EB-5 Project Settles $1.5M Suit

Law360, New York (January 12, 2018, 7:58 PM EST) -- A Chinese investor who was allegedly defrauded of $1.5 million as part of an investment scheme exploiting her desire to obtain U.S. residency through U.S. Citizenship and Immigration Services’ EB-5 visa program settled her suit Thursday.

Sophie Harrison, Shengrun International Industry Group Inc. and Sino-USA Entrepreneur Association Inc. have agreed to pay Shuting Kang $530,000 and an additional 3.7 million RMB ($573,000) to resolve claims that they bilked her out of $1.5 million, according to Brian Y. Lee, who represents Harrison and the two companies, on Friday.

Specifically, Kang said that Harrison and the California-based companies cheated her with false promises...

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Case Title

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Court

California Northern

Nature of Suit

Securities/Commodities

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Date Filed

May 25, 2017

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