The U.S. Securities and Exchange Commission on March 15, 2017 accused a Washington, D.C.-based development company and its president of using the EB-5 immigrant investor program to scam foreign investors out of $14.5 million. This case was filed in Federal District Court in Washington, D.C.

Aero Space Port International Group Inc. and its president, Andy Shin Fong Chen, promised U.S.-resident hopefuls that their investments would go toward a development project linked to the EB-5 program, despite using the funds for luxury car payments, personal stock trading and operations for other companies, the SEC alleged.

From July 2011 to February 2015, Chen earned $14.5 million in investments and $1.8 million in fees from 29 investors, the SEC said.

Chen claims that none of his EB5 investors came forward to cooperate with the SEC.

The odds are against the EB5 investors to get green card or get their money back once the SEC files lawsuit.