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San Gabriel Hilton Hotel Suite, Arcadia Home Raided by FBI Wednesday Morning

April 5th, 2017 by admin

– Courtesy photo / Immigration and Customs Enforcement

 

Agents raid multiple locations in Arcadia and El Monte in connection with EB5 visa fraud

By Terry Miller

ICE and FBI agents Wednesday raided two San Gabriel Valley homes as well as offices of at least three people who are suspected in a multi-million dollar visa and financial fraud investigation.

A 136 page affidavit obtained by Beacon Media News (application for search warrant) was served this morning on a suite at the San Gabriel Hilton Hotel, 225 W. Valley Blvd. in an effort to collect evidence of a crime, contraband and related information pertaining to EB5 Visa fraud.

Those targeted by the FBI are believed to have collected as much as $50 million in bogus investments from dozens of Chinese people who were granted permission to live in the United States in exchange for the money.

Teams of federal agents served search warrants on properties tied to three suspects, all Chinese nationals, who investigators believe ran a scam involving a little-known type of immigration visa reserved for high-end investors.

The investigation centers around a Victoria Chan, who is an attorney, and her father Tat Chan who allegedly have defrauded the United States by “exploiting the US immigration EB-5 visa program.”

Additionally the affidavit reads, in part, that some of  Victoria Chan’s clients were fugitives on the People’s Republic Of China 100 most wanted list.

The government issues visas through its Immigrant Investor Program. To qualify for the visas, immigrants must invest at least $500,000 into business ventures in the U.S. that are designed to create jobs. If and when a project ultimately meets the visa requirements, the investors will be granted permanent legal residence {green card} to remain in the U.S.

The alleged fraud dates back almost a decade.