USA Now Regional Center
2010 - 2013
Marco and Bebe Ramirez opened the USA Now Regional Center and solicited investments from foreigners through the EB-5 Immigrant Investor Program. Promising investors their investments would make them eligible for visas, the pair lured 10 foreign nationals from Mexico, Egypt, and Nigeria to contribute $500,00 each.
However, the Ramirezes failed to direct the funds to an EB-5 eligible development project. In a press release the SEC writes “Instead of investing the money as promised, the Ramirezes routinely diverted investor funds to other undisclosed businesses and for their personal use. In at least one instance, they used new investor funds to make Ponzi-like payments to an existing investor.”
As a result of the fraud, none of the investors received visas for their money.