INLAND EMPIRE – (INT) – Federal prosecutors are invoking asset forfeiture laws targeting those who exploit the ‘green card’ Visa program.

Nine lawsuits filed in United States District Court allege that some of the $50 million collected from primarily Chinese investors by a business called California Investment Immigration Fund (CIIF, was stolen by participants in the scheme over the past 9-years and used to buy expensive homes in the Inland Empire.

The EB-5 visa program provides lawful permanent residence in the US to foreign nationals who invest at least $500,000 in a domestic business that creates 10 new American jobs. Those involved in the scheme allegedly convinced more than 100 Chinese nationals to invest millions in CIIF and related companies.

The lawsuits seek the forfeiture of nine homes and property in Los Angeles, San Bernardino and Riverside counties.

The asset forfeiture lawsuits contain allegations only.

Story Date: May 31, 2017