Woman accused of $21.6 million Coachella EB-5 scam — she sent investors fake photos of construction that never happened

  • Written by GCBI Team Posted on June 25, 2020 | Updated on June 25, 2020 | 1 min read

LA resident Ruixue Shi faces up to 20 years in prison for misappropriating EB-5 investor capital. Investors thought their money would build a Coachella condo and hotel.  Shi told investors she owned 47 acres of land when she only had 20 acres — and no approvals to break ground. Apparently, she used $2.5 million on personal projects, luxury cars, designer clothes and travel.

Read the Patch.com story