Fraudsters purchased real estate on $ 30 million for the money received for the scam with green cards

Фото: Depositphotos

Federal prosecutors petitioned for the confiscation of 9 real estate in Southern California, which, according to law enforcement, were acquired from proceeds from a fraudulent scheme, which resulted in scammers receiving more than $ 50 million from foreign investors wishing to receive green cards as part of EB-5 visa program.

The investigation filed 9 lawsuits claiming that much of the money received from Chinese investors was either returned to them or stolen by the participants in the scheme, reports ICE.

Lawyer Victoria Chan and her father Tat Chan ran a business called California Investment Immigration Fund and took money from more than a hundred Chinese investors, helping many of them get a US resident card through the EB-5 visa program, which helps foreign investors move to the US.

In order to be eligible to receive a green card, foreign nationals must invest at least $ 500 thousand in the American economy.

According to the investigation, participants of this scheme convinced over 100 Chinese citizens to invest over 50 million dollars в California Investment Immigration Fund (CIIF), promising them a visa.

“Instead of investing legally in US business, CIIF either returned funds to EB-5 investors, while EB-5 investors were looking for, which directly contradicted EB-5, or stole millions of dollars in personal investment , including the purchase of homes for a million dollars, "- said in the documents of the investigation.

Such a scheme led to the fact that many investors received visas unfairly, because the funds did not go to the development of the US economy, and were returned to them or stolen.

The investigation is confident that the acquisition of real estate was a method of money laundering, and therefore requires its confiscation.

The lawsuits require the confiscation of 9 buildings - commercial and residential real estate - ranging from $ 3 million to $ 7,7 million each. The total value of the acquired property is about $ 30 million.

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