Supreme Court’s recent disgorgement decision leads to reversal of $3 million SEC enforcement in EB-5 fraud case

  • Written by GCBI Team Posted on August 14, 2020 | Updated on August 14, 2020 | 1 min read

The two-month-old Supreme Court decision regarding whether the Securities and Exchange Commission can seek disgorgement of ill-gotten gains is already making an impact. A Ninth-Circuit court reversed and remanded a decision involving the disgorgment of nearly $3 million against a California doctor and his administrative assistant who bilked EB-5 investors out of nearly $20 million for a supposed nursing care facility. A major issue was whether the disgorged funds would be returned to the investor victims.

Read The National Law Review article