Green Card by Investment

Category

Legal Drama

Date

Dec 22nd, 2023

Share this article

Comments

To leave comments you must Register first

SEC charges NY businessman with fraud and unregistered sales of EB-5 investment; veteran immigration lawyer also charged

The SEC charged Nadim Ahmed and his companies with defrauding EB-5 investors. It also charged long-standing immigration lawyer Mona Shah with offering unregistered securities to investors. The investments were sold from June 2014 to November 2022, raising over $66 million from over 100 investors. Ahmed allegedly misappropriated investor capital to pay a prior SEC settlement. According to the SEC complaint, none of the investors gained permanent residency or investment returns. Shah responds: “It is disappointing that the SEC has made these allegations based on a technicality, and we are confident we will show we acted appropriately.”

See the SEC release

Article

Stay informed about EB-5 news.