A prominent Oakland businessman and two others are accused of committing a massive EB-5 fraud that could be the largest of its kind in state history. The trio took in $110 million from over 200 investors, and promised to create 2,000 jobs but are accused of using the money for their own real estate purchases.
The San Francisco Regional Center promises “safe investments to set your family on the path to American citizenship” on their website. But federal charges say this promise of safe investing was a lie.
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