A father and daughter duo allegedly helped obtain visas for Chinese nationals, including people on that country’s “100 Most Wanted” fugitive list, by defrauding a U.S. program that awards visas to wealthy foreigners who invest in American projects, according to federal court documents unsealed Wednesday.
The allegations of fraud are the latest to hit the EB-5 visa program, which gives green cards to foreigners who invest $500,000 in businesses that are measured to have created 10 jobs per investor.
Lawyer Victoria Chan and her father, Tat Chan, allegedly raised more than $50 million from more than 100 Chinese nationals who wanted these visas, according to a detailed affidavit for a search warrant filed in federal court in the Central District of California unsealed Wednesday.
But instead of investing in U.S. businesses, the duo allegedly pocketed millions and gave the money back to some of these investors.
Ms. Chan didn’t return calls and texts seeking comment. Her father couldn't be reached for comment.
Agents of the Federal Bureau of Investigation and of Homeland Security Investigations, the investigative arm of the Department of Homeland Security, raided two residences and a business office outside Los Angeles on Wednesday. A spokeswoman said the agencies weren’t seeking to make arrests immediately.