The trial of the 145 million yuan fraud case against Chinese immigrants begins

The 145 million yuan fraud case against Chinese immigrants begins at the Chicago Convention Center (A Chicago Convention Center, Jane...

The 145 million yuan fraud case against Chinese immigrants begins at the Chicago Convention Center) Center (ACCC) is suspected of defrauding Chinese investment immigrants. The case was held for the first time in the Northern Illinois Federal Court in Chicago. The judge ruled in court to freeze the account of the conference center worth 145 million yuan. At the same time, Seth, the head of the center, was required to submit an explanation of the flow of administrative fees of 11 million yuan within a time limit. As many as 250 Chinese investment immigration clients have been implicated in this case. The case will be heard for the second time in Chicago. However, immigration lawyers pointed out that even if the relevant persons are sentenced in the future, these victimized Chinese investors have little hope of applying for immigration in the future. The case is still undergoing a civil trial for the alleged fraud, and the Chinese agent responsible for the "Chicago Convention Center" has not been charged. The center continues to operate. In this case, the Federal Securities Commission (SEC) listed Seth as an individual, as well as his affiliates, the Chicago Convention Center (ACCC) and the Intercontinental Regional Center Trust of Chicago (IRCTC). The main charges were "fraudulently selling securities to obtain 1.4 500 million investment funds and an additional 11 million yuan in administrative fees", and "deliberately misleading" and "providing false information" to defraud more than 250 Chinese investors. More than 90% of the administrative fees have been squandered, and 145 million yuan of investment funds are also at risk of being misappropriated. Seth is suspected of deceiving Chinese investors, falsely claiming that as long as he pays a fee of 500,000 yuan, he can become a shareholder of the Chicago Convention Center and invest in five large hotels near Chicago O'Hare Airport, and thus obtain legal status as an investment immigrant. This is not true.