EB 5 Fraud – SEC Halts $150 Million Investment Scheme to Dupe Foreign Investors and Exploit Immigration Program

The EB-5 program allows foreign investors to obtain permanent residence through an investment of either $500,000 or 1million dollars.  The $500,000 are usually associated with approved projects. Unfortunately many have taken advantage of this program to defraud immigrants. FOR IMMEDIATE RELEASE 2013-20 Washington, D.C., Feb. 8, 2013 — The Securities and Exchange Commission today announced…