From The Real Deal, “SGV center suspected of money-laundering allegedly hired high school students to run office and advertised non-existent development.
Federal agencies raided the homes and office of a California attorney and her father on Wednesday amid an investigation into whether the two perpetrated a multi-million-dollar fraud scheme. Victoria and Tat Chan allegedly took money from roughly 100 Chinese investors through the EB-5 visa program but never actually invested it on their behalf.
Instead, authorities said, the Chans used the funds to buy luxury homes for themselves throughout Southern California. The list of investors believed to be involved included fugitives on China’s 100 most wanted list, some of whom were allegedly complicit in the scheme. At least three of the investors successfully obtained green cards, according to an affidavit filed by the FBI.”