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Court orders two California EB-5 fraudsters to disgorge $20.8 Million, disallows claim of $7.5M in salaries

A federal judge has ordered Charles Liu and Xin Wang to pay back almost $21 million from the $26 million they fraudulently raised for a supposed Southern California cancer treatment center. While the judge did not include $5 million of supposed business expenses in the disgorgement total, he still doubted this claim as the numbers could not be verified. Incredibly, Liu and Wang tried to argue that they should keep $7.57 million in combined salaries.

Law360 article (subscription required)

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