On Wednesday, February 6, the U.S. Securities and Exchange Comission (SEC) brought a civil action alleging a myriad of SEC violations against A Chicago Convention Center, LLC, Anshoo Sethi, and Intercontinental Trust Center of Chicago, LLC. This action was brought in part to protect current and potential investors from losses as a result of the alleged SEC violations.

As our Corporate & Securities colleague Steve Anapoell correctly noted, the SEC is taking the EB-5 Regional Center program very seriously and will be active in prosecuting those suspecting of violations. His blog post last April — Avoid Becoming the Next Regional Center or Project Company Being Sued – explains how to avoid becoming the next regional center to make headlines.

We will be posting a more indepth analysis shortly.