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Indian American From Chicago Indicted In Visa Fraud
Thursday, 28 August 2014, 23:07 IST
According to the indictment, Sethi solicited Chinese nationals who were interested in obtaining EB-5 visas to invest $500,000 each plus a $41,500 administrative fee in A Chicago Convention Center and the Intercontinental Regional Center.
He said that the $500,000 would be used for construction of the complex and the $41,500 would be used for administrative and marketing expenses, the indictment alleges.
Under current U.S. laws, foreign nationals get green card or permanent residency if they invest $1 million, or at least $500,000 in a domestic project in a high unemployment or rural area and their investment would create or preserve at least 10 jobs for U.S. workers.
Each Chinese national who invested $541,500 in the project also applied for an EB-5 visa with U.S. Citizenship and Immigration Services (USCIS), but no EB-5 visas were actually granted to investors through the convention center project, federal investigative agencies said.
The indictment alleges that Sethi falsely represented that the project had executed franchise agreements with established hotel brands, namely Hyatt, Starwood, and Intercontinental Hotel Group, to operate at least three separate hotels at the complex, knowing at the time that no such agreements existed.
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Source: PTI
