The EB-5 visa program helps immigrants and their families obtain a green card for qualifying investments with United States businesses. However, the program has attracted scams. There are at least 35 cases of EB-5 fraud against investors and the Securities and Exchange Commission (SEC) has received more than 100 tips about potential securities fraud with the program between the start of 2013 and the start of 2015.
Immigrants seeking entry into the United States through the program can be the target of scams by groups looking to take advantage of the language differences or the vulnerability of potential immigrants seeking to enter into the United States. If you are the victim of a scam or have evidence of securities fraud in the program by an individual or business, you can call 1-800-590-4116 for a free, confidential initial legal consultation with one of our whistleblower attorneys.
A violation of the terms of the EB-5 program is a violation of federal securities law enforced by the SEC. Individuals who provide information about violations of the law to the SEC can receive a reward of between 10 and 30 percent of the government’s recovery in the case through the SEC whistleblower program.
The immigrant investor program was originally created to expand the pool of investors in certain businesses. It has gained in popularity over the past decade as access to capitol for certain sectors has dried up.
Securities fraud has followed. From solicitations by unregistered participants in the program, to misrepresentations in the investment solicitation, to ponzi schemes and embezzlement by the business owners.
The program, which has been running for more than 25 years, has received a series of short term extensions while Congress considers whether to extend or reform the project.
Call 1-800-590-4116 for a free, confidential initial legal consultation with one of our whistleblower attorneys about EB-5 fraud.