San Gabriel Schemesters

$50.0 million

San Gabriel, CA

2018 - 2017

Tat and Victoria Chan, a father-daughter duo, ran an EB-5 firm that targeted Chinese nationals, promising them that investing would qualify them for visas. Instead, the Chans either refunded investors after they had improperly obtained the visas or pocketed the money to pay for houses and luxury cars.

Victoria Chan admitted to submitting nearly 130 fraudulent visa applications totaling nearly $50 million. After raiding CIIF, the FBI noted that three of the investors who had received green cards were fugitives from the Chinese government.

The FBI seized eight properties worth nearly $25 million from the Chans and their relatives. None of the collected money went to EB-5 projects.

The California Central District Court in 2018 awarded foreign investors $26,730,400 in damages, including $20,000,000 in punitive damages.