Action against Respondents, three development companies organized to use EB-5 investor funds to finance development and construction projects, for alleged offering fraud.  According to the SEC, Respondents represented to investors that funds would be used to finance a real estate development project but instead used the funds for unrelated purposes.  Respondents have agreed to pay a total of $51,444,135.40 in disgorgement, prejudgment interest, and civil penalties.  $49.5 million of the disgorgement amount will be satisfied by payments previously distributed to investors by Respondents.

SEC Order 

SEC Press Release