Doctor who admits to EB-5 scam says his $15 million penalty is ‘flawed’

  • Written by GCBI Team Posted on October 30, 2020 | Updated on November 13, 2020 | 1 min read

Dr. Robert Yang collected $19.5 million from EB-5 investors who believed they were financing a medical facility; instead, he used much of that capital for personal expenses. While he admits he caused “serious harm” to the investors, he believes the Securities and Exchange commission should reduce their total penalties to about a fifth of their number, as their figures are “flawed.”

Law360 article (subscription required)