Lawyer who sold EB-5 investments without being registered shut down again

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

Hui Feng, a lawyer who sold EB-5 investments, was successfully sued by the Securities and Exchange Commission (SEC) in 2017 for his failure to be registered. He was fined almost $2.4 million and barred from the industry. He argued in March 2019 that registration rules didn’t apply to his real estate investments, claiming they were not securities. But a new judgment  declares that a collateral estoppal provision prevents the re-litigation of the issue. In addition, the judge rebuked Feng for the repeated use of “highly vague” language in his complaint.

See the article (subscription required)