Caffe Primo on Flower Street in Downtown Los Angeles
He pocketed roughly $10M from foreign investors
Fans of the local food chain Caffe Primo have been fed a lot of false promises — and, allegedly, so were its EB-5 investors.
The company abandoned plans last week to open at the base of a mixed-use building at 702 Arizona Avenue in Santa Monica, years after first putting up signage that indicated the contrary, Eater reported. It is one of several promised expansions that never came to be while almost $10 million from foreign investors allegedly went directly into the pockets of Emilio Francisco, who raised EB-5 money for the Primo locations under his Costa Mesa consulting firm,PDC Capital Group.
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