The U.S. Department of Justice has announced that a California couple has been indicted on visa fraud and identity theft charges. The couple, Jennifer Yang and Daniel Wu, allegedly swindled the federal government by faking investment forms and creating employees to create the illusion that their companies were viable entities under the EB-5 program.
Couple Commits EB-5 Fraud
From 2009 to 2016, Jennifer Yang and Daniel Wu allegedly defrauded the government through the EB-5 visa program by creating supposedly legitimate companies that were classified as new commercial enterprises. They also received at least $4 million from seven foreign investors.
Yang allegedly founded Capital Law Group LLP as a means to represent people seeking to become residents under the EB-5 program and received nearly $150,000 in fees. While representing these investors, she directed their investments to four companies owned by herself and Wu, 1-855-Lawyers Inc., 81 Law Inc., 81 Doc Inc. and Searchcaser Inc.
Yang and Wu Also Committed Identity Fraud
According to the indictment, Yang and Wu allegedly submitted false I-526 and I-829 petitions by mail using the personal identifying information of third-party individuals without their knowledge or consent. The petitions were submitted to give the impression that the foreign investments had created new employment opportunities, which is the main purpose of the EB-5 program.
The EB-5 program is a federal program that allows foreign investors and immediate family members to receive a pathway to citizenship by investing $1 million in a commercial enterprise or $500,000 in certain regions with low employment rates.
The falsified documents are investor documents provided to the government to provide background information on the investor and to apply for legal permanent residency in the U.S.
Have You Lost Money in an Investment Scheme?
If you believe you have been the victim of an investment scheme, you may have certain legal rights that require your immediate attention.
Call an Investment Fraud Attorney Today
If you are looking for an investment fraud attorney to review your rights and options, the investment fraud lawyers at Dimond Kaplan & Rothstein, P.A. have recovered over $100 million from banks and brokerage firms for their wrongful actions.