Danhong Jean Chen, a former resident of Atherton, has been extradited from the Kyrgyz Republic to face federal charges in San Jose related to the EB-5 visa program. Alongside her ex-husband, Chen allegedly engaged in fraudulent activities that misled investors. After fleeing the U.S. following a civil complaint by the SEC in 2018, she acquired citizenship in Dominica. Her ex-husband pleaded guilty to related charges and served time in prison. The EB-5 program has garnered criticism for fraud, while a proposed gold card program has been introduced as a potential alternative.
"The EB-5 visa program has been a valuable pathway for foreign investors, yet it has also been shadowed by numerous allegations of fraud and mismanagement."
"In 2018, the U.S. Securities and Exchange Commission filed a civil complaint against Chen, alleging improper solicitation of investments that led to her fleeing the country."
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