Securities and Exchange Commission v. Robert Yang et al

  1. April 01, 2021

    Calif. Doctor To Pay $3.5M To End SEC's EB-5 Fraud Claims

    A California doctor and his office manager will pay nearly $3.5 million and about $216,000, respectively, to end U.S. Securities and Exchange Commission claims that they fraudulently raised about $20 million from would-be EB-5 immigrant investors with representations that they planned to develop nursing homes, a federal judge in California has determined.

  2. October 27, 2020

    Doctor Asks Calif. Court To Slash 'Flawed' $15M SEC Fine

    A geriatrician embroiled in a yearslong tussle with the U.S. Securities and Exchange Commission over an alleged EB-5 investment scheme has asked a California federal court to slash the $15 million in penalties the agency is seeking, claiming the amount is both improperly calculated and implausible based on the defendants' inability to pay.

  3. October 14, 2020

    SEC Seeks To Restore Judgment Nixed By 9th Circ. Over Liu

    The U.S. Securities and Exchange Commission asked a California federal judge on Tuesday to largely restore a $15.5 million judgment reversed by the Ninth Circuit earlier this year in light of a high court ruling on the regulator's disgorgement powers.

  4. January 09, 2019

    Doc, Manager Must Pay $15.5M For Alleged EB-5 Scheme

    A California federal court on Tuesday ordered a doctor, his office manager and affiliated businesses to fork over more than $15.5 million to the U.S. Securities and Exchange Commission for allegedly misappropriating funds through an EB-5 visa scam.

  5. November 07, 2018

    EB-5 Project Managers Slam SEC's $15.5M Penalty Bid

    A doctor, his office manager and affiliated businesses pushed back on Tuesday against the U.S. Securities and Exchange Commission's bid for a California federal court to order them to pay more than $15.5 million after they allegedly misappropriated funds through an EB-5 visa scam.

  6. September 27, 2018

    SEC Seeks $15.5M Win Against EB-5 Fraudsters

    The U.S. Securities and Exchange Commission urged a California federal court to order a doctor, his office manager and their affiliated businesses to disgorge more than $15.5 million, after the pair agreed not to contest the SEC's allegations that they misappropriated funds through an EB-5 visa scam.

  7. November 30, 2015

    SEC Freezes Assets Related To Alleged $10M EB-5 Scam

    A California federal judge has frozen the assets of a doctor, an office manager and businesses involved in an alleged scheme to steal at least $10 million from funds Chinese investors believed would lead to visas under a program that rewards job-creating investments in the United States.

  8. November 20, 2015

    SEC Says At Least $10M Was Diverted From Calif. EB-5 Funds

    U.S. authorities moved to freeze the assets Thursday of a California doctor, an office manager and businesses accused of plundering at least $10 million from funds marketed to Chinese investors in proposed facilities who are seeking visas under a program that rewards job-creating investments in the United States.