Developer Robert A. Ferrante was accused of misappropriating funds from EB-5 investors, mostly Chinese, using 19 different EB-5 investment offerings. The investors thought their capital was going into assisted-living facilities, restaurants, and a packaging facility. In an earlier motion to dismiss, Ferrante said he was the target of a “witch hunt.” Now he is agreeing to pay almost $3.8 million in disgorgement and a $369,000 fine.
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Securities law in EB-5
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