$150 million Green Card fraud lands Indo-American in shackles

Anshoo Sethi, a 29 year old Illinois-based Indo-American, was arrested in a green-card fraud that scaled up to $150 million. The culprit, using two companies, A Chicago Convention Center (ACCC) and Intercontinental Regional Center Trust of Chicago (IRCTC), was allegedly running a fraudulent scheme of falsely giving hopes of green-card American residency to Chinese and other investors while duping them of at least $150 million, selling over $145 million in securities and collecting $11 million in administrative fees.

As per the charges, Anshoo led the investors to believe that investing in ACCC will actually mean investing in the construction of the World’s First Zero Carbon Emission Platinum LEED certified projects near O’Hare Airport in Chicago, thereby opening ways to obtain green card through EB-5 Immigrant Investor Pilot Program. The Securities and Exchange Commission (SEC) has acquired a temporary restraining order and asset freeze against the culprit and his companies, which was granted by the district court.

SEC pointed out that apart from duping the investors of their money, the culprit also boasted to them of his thorough experience in real estate development and management scaling over 35 years in spite of the fact that his company was set up only in 2010.

 

Reddy & Neumann, P.C. is an immigration law firm in Houston, Texas. For over 15 years, our firm has successfully represented corporate clients across the United States in their efforts to bring foreign workers and business professionals to the United States. Reddy & Neumann, P.C. is dedicated in its advocacy and community involvement efforts towards achieving effective comprehensive immigration policy reform. From filing, through approval, and on to appeal, we do everything possible to ensure that your company can bring the best and brightest in the world to the United States.