SEC Orders EB-5 Brokers To Pay $3.2M Over Unlawful Fees

Law360, Miami (March 28, 2016, 9:14 PM EDT) -- An administrative law judge on Friday ordered a Boca Raton, Florida, company and its Hong Kong affiliate to pay almost $3.2 million for a $79 million operation helping foreign investers get residency visas through the Immigrant Investor Program without registering as broker-dealers.

Judge Jason S. Patil ordered Boca Raton-based Ireeco LLC and Hong Kong-based Ireeco Ltd. to pay $3,179,633 in disgorgement, the amount the two companies collected in commissions that were illegal because the companies were not registered as broker-dealers.

The two companies had been charged by the U.S. Securities and Exchange Commission with wrongfully providing 150 people with investments in...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS