{"id":2242,"date":"2014-09-05T20:36:47","date_gmt":"2014-09-06T00:36:47","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=2242"},"modified":"2019-02-12T14:17:08","modified_gmt":"2019-02-12T19:17:08","slug":"promoter-failed-eb-5-project-indicted","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/promoter-failed-eb-5-project-indicted\/","title":{"rendered":"Promoter of Failed EB-5 Project Indicted"},"content":{"rendered":"
Promoter of a failed visa-for-sales program, Anshoo Sethi, has been charged by a federal grand jury with 10 federal counts of fraud and false statements, while using Chinese investors\u2019 money to run a cosmetic surgery business.<\/p>\n
According to reports, Sethi, a 30-year-old Chicago man, had plans to build a giant hotel and a Chicago convention center funded with $160 million that he raised from Chinese investors. These plans of his were subject to a recent Fortune investigation.<\/p>\n
Sethi has been charged with eight counts of wire fraud and two counts of making false statements. He can face a maximum sentence of 20 years on each fraud count and 10 years or more on the false-statement charges, if he is convicted.<\/p>\n