The EB-5 immigrant investor program rests on a straightforward promise made to foreigners: Invest in the growth of U.S. businesses, and in return you and your family will receive visas. The arrangement is designed to be mutually beneficial, but sometimes it doesn’t work out that way.
The U.S. Securities and Exchange Commission recently announced it had charged a California-based energy company, Luca International, and its CEO with defrauding investors in a $68 million scheme that involved vastly overstated company resources and potential returns on investment. The company also neglected to mention the fact that it was deep in debt.
