SEC charges Potala Village Developer with Defrauding Investors

The Seattle Times has published this article of particular interest to Kirkland:

SEC charges local developer defrauded immigrant investors

Federal regulators allege Seattle area developer Lobsang Dargey has “fraudulently raised at least $125 million” by selling securities to more than 250 mostly foreign investors seeking U.S. residency through a controversial visa program...

Developer Lobsang Dargey has targeted Chinese investors seeking a visa through the federal EB-5 program to fund two real-estate projects — a high-rise Seattle tower and a mixed-use development in Everett.

Read the full Seattle Times article by Sanjay Bhatt