February 27, 2013
How Does It Happen? Chicago Convention Center EB-5 Fraud
Not Acting Alone
EB5info.com Managing Director Michael Gibson stated, “The U.S. firms participated in this offering by making it a reality without doing any KYC investigations or independent due diligence to verify the claims being made by Sethi. If you look at all of the U.S. professionals who are responsible for putting together an offering package and subsequent I-526 application for residency, you will see a list of firms and service providers who should have known better:
• Securities attorneys
• Immigration attorneys
• Economists
• Escrow Agents
• Financial Institutions (Loop Capital)
• Public officials (State and local, ie. the Governor of Illinois)
• Feasibility study providers
• EB-5 “consultants” & finders
“Together they provided Sethi the credibility that he needed to promote this fraud and convince people to invest. Without the support of the above, some of which traveled to China to promote the investment, he would never have been able to persuade the Chinese investors to subscribe.
http://eb5news .com/categories/13-fraud/posts/360-how-does-it-happen-chicago-convention-center-eb-5-fraud
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WATCHDOGS: Political insiders cashed in on failed O’Hare project
CHICAGO 12/02/2016, 11:46pm
"Hoping to avoid prison, Sethi, 33, has offered to help federal agents investigate his clout-heavy advisers. But they’re not interested, according to a court filing from Sethi’s lawyer, former federal prosecutor Patrick Collins. Prosecutors have “even told the probation officer that, as far as follow-up with specific politicians involved in the project, the FBI ‘did not and would not’ be interviewing them,” Collins wrote in a court filing Nov. 16.
But the feds say in court papers that Sethi should be sent to prison for at least six years, saying he “has not seriously cooperated . . . and failed to provide any particularly credible information” regarding misconduct by others."
https://archive .fo/NoeB6#selection-2497.0-2555.19_______________
February 21, 2017
Hotel developer gets three-year sentence in visa fraud case
https://archive .fo/g1CfE#selection-1175.1-1181.60