A California couple is facing securities fraud charges filed against them by the Securities and Exchange Commission. Charles C. Liu and Xin “Lisa” Wang, of Laguna Niguel, are accused of defrauding Chinese investors of more than $27 million.
According to federal investigators, Liu and Wang told their investors that they were raising money to build a proton beam radiation therapy facility in Southern California. In addition to creating thousands of jobs, the pair told investors that their investment would give them preferential residency status if they wanted to pursue it in the future. Liu and Wang claimed that investors would qualify for residency under the EB-5 program, which provides green cards for foreign nationals who invest at least $1M and create 10 or more jobs in the United States.
The couple began collecting investments in 2004, although there is no evidence that they intended to build a medical treatment facility. Instead, the couple used the money to invest in firms in China, and transferred at least $7M of investor funds to their own personal accounts. The SEC will seek full restitution with interest on behalf of the defrauded investors.
Securities fraud attorney
Federal prosecutions are difficult and require exceptional defense experience. Federal prosecutors are well funded, and they rarely prosecute cases they don’t think they can win. In the federal courtroom, getting an acquittal is a challenge, but it’s one that is best handled by an experienced federal securities fraud attorney like Robert Helfend.
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Mr. Helfend handles each case personally. You will work directly with him to prepare your securities fraud defense. Your case will receive a much greater degree of personal attention from the attorney who will present your defense in court than you would if you retained an attorney from a larger firm. In a larger firm, cases are often “managed” by a senior partner, but prepared by less qualified, less experienced attorneys.
Don’t risk your future on less experienced attorneys. Put an experienced federal criminal defense attorney in your corner. Contact Robert Helfend or call toll-free at (800) 834-6434, (310) 456-3317, (818) 591-2809 or (805) 273-5611 for an immediate consultation on your Los Angeles County securities fraud case.
Photo Credit: Liz West, via Flickr.com