We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

SEC Settles Fraud Claims With Developers Over EB-5 Offering

Law360 (December 12, 2018, 10:37 PM EST) -- Three Texas developers must pay over $51 million to settle securities fraud charges that they duped 90 Chinese investors into funding what they believed was a real estate project that would allow them to obtain permanent residency in the United States, the U.S. Securities and Exchange Commission announced Wednesday.

America Modern Green Senior LLC, America Modern Green Community LLC and America Modern Green Residential LLC — all of which are owned by the Beijing-based Modern Land (China) Co. Ltd. — agreed to pay disgorgement of $49.5 million, plus $1,144,135 in interest and an $800,000 penalty, without admitting or denying the claims,...

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