Friday, March 17, 2017

EB-5 fraud never ends!

The U.S. Securities and Exchange Commission on Wednesday filed complaint against  Seattle-based development company and its president and family members of using the EB-5 immigrant investor program to scam foreign investors out of $14.5 million.

Aero Space Port International Group Inc. (ASPI regional center) and its president, Andy Shin Fong Chen, promised foreign investors that their investments would be used for an EB-5 project, despite using the funds for personal stock trading, automobile leasing, credit card payments, dental insurance payments, and operations for other companies, the SEC alleged.


See SEC Complaint at https://www.sec.gov/litigation/complaints/2017/comp23778.pdf

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