The FBI is working with federal civil authorities to investigate an Everett developer accused of defrauding foreign investors by diverting millions of dollars for his own use, court papers show.
FBI agents on Aug. 24 served a search warrant at Lobsang Dargey's business offices, according to documents filed Tuesday in U.S. District Court in Seattle.
The FBI's visit came the same day the U.S. Securities and Exchange Commission filed a federal civil lawsuit, alleging Dargey misused $17.6 million of investor money to buy a new house in Bellevue and bankroll two apartment buildings.
The new court pleadings say the FBI has since supplied securities regulators with business documents seized from Dargey. Among other things, the paperwork shows him taking a $15.8 million loan from money put up by investors. Investor funds also paid “for such extravagances as the $212,237.29 purchase of a Bentley” luxury automobile, government attorneys allege.
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