Two alleged fraudsters were arrested and charged for reportedly taking at least $27m from foreign investors in exchange for access to former President Donald Trump.
Sherry Li and Lianbo "Mike" Wang were arrested on Monday. The duo face charges for wire fraud conspiracy, money laundering conspiracy and conspiracy to defraud the US. Prosecutors said that the duo were attempting to obstruct the Federal Election Commission's campaign finance laws.
According to CNN, the pair allegedly promised foreign investors that they could obtain green cards and access to Mr Trump. They allegedly told investors the money was going toward the building of a fake school.
Prosecutors said Ms Li began running the scam from her home in Long Island in 2013. Mr Wang allegedly acted as a general manager for the fictitious school at the centre of the plot, and the duo used the money raised to fund clothing, jewelry, vacations, and political contributions.
They also claim that Ms Li and Mr Wang — who are both US citizens — brought foreign nationals to fundraisers for US politicians, then used the foreigners' money to make political contributions.
The pair allegedly attended a political event in June 2017 at the Trump International Hotel in DC, where they alongside 12 Chinese and Singaporean nationals posed for photos with Mr Trump and former First Lady Melania Trump.
Seven people in that group stayed in the same hotel in Washington DC with Ms Li and Mr Wang. The group racked up a $31,000 bill, and prosecutors believe funds from the fake school fund paid for those expenses.
Ultimately, prosecutors believe the pair raised at least $27m from more than 150 investors while running the scheme. Approximately $16.5m of that was raised through investors holding EB-5 visas hoping their contribution would secure them a green card.
According to prosecutors, none of the EB-5 investors received a green card, and the investors' ties to the fraudulent school raised red flags at the US Citizenship and Immigration Services, likely costing them a chance at a legitimate green card.
In addition to the allegedly fraudulent school, Ms Li and Mr Wang also reportedly were planning to build a cultural theme park back in 2011. They said it would be akin to a "Chinese Disneyland," but located in upstate New York.
