SEC Puts Attorneys On Notice With EB-5 Enforcement

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December 7, 2015
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Law360, New York (December 7, 2015, 9:10 PM ET) — The U.S. Securities and Exchange Commission’s crackdown on scofflaws in a federal program for immigrant investors entered a new phase Monday when the agency took action against several attorneys who decided to moonlight as deal makers without following the rules on how to do that.

These disciplinary actions are markedly different from other recent cases the SEC has brought in the EB-5 space, which have focused on those investment-for-visa opportunities that the agency says are actually multimillion-dollar frauds and Ponzi-like schemes.

Instead, the latest crop of…

Source: Law360