SAN GABRIEL VALLEY, Calif. #Immigration and #FBI Agents Conduct Raids in Homes and Offices in Alleged $50-Mi llion Investors’ Visa Scam ‘ that targeted Chinese people granted a chance to live in United States for payment – @AceNewsServices

#AceNewsReport – Apr.05: #Immigration and #FBI agents Wednesday raided the San Gabriel Valley homes and offices of people targeted in a large-scale visa and financial fraud investigation.

KTLA reported that Immigration, FBI Agents Conduct Raids in San Gabriel Valley Homes and Offices in Alleged Investors’ Visa Scam The suspects 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.

Each year, the government issues thousands of visas through its Immigrant Investor Program. To qualify for the visas, immigrants must invest at least $500,000 into new or struggling business ventures in the U.S. that are designed to create jobs. If a project ultimately meets the visa program’s requirements, the investors are granted permanent legal residence in the U.S.

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