SEC to freeze assets after allegations that an Inland physician and partner ‘siphoned off’ $10 million from Chinese investors seeking a green card.
Federal authorities are seeking to freeze the assets of a San Bernardino doctor and office manager accused of illegally diverting half of $20 million they raised from Chinese investors hoping to qualify for an immigration program.
In a Nov. 19 filing in Riverside federal court, the Securities and Exchange Commission states that Dr. Robert Yang, 45, of Redlands and the administrative manager of his medical practice, 45-year-old Claudia Kano of Pomona, secured funds from 40 investors hoping to immigrate to the U.S.
Court documents say Yang and Kano persuaded them to invest by touting a program that issues visas to immigrants who make significant investments that create jobs. But the civil complaint alleges “Yang and Kano repeatedly siphoned off investor funds.”
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