El Segundo Ponzi Scheme Targets Latinos
Headline Legal News
An El Segundo woman took $23 million in a Ponzi scheme that targeted Latinos, the SEC says in Los Angles Federal Court. Clelia A. Flores and her business, Maximum Return Investments, took the money from more than 150 people in seven states, by "guaranteeing" 25 percent returns in 45 days, the SEC says.
Flores roped in customers by offering high-yielding investments in oil, gold, and real estate, the SEC says. It claims she spent more than $3.5 million of it on herself, $443,000 to buy a home, and almost $1.5 million to finance MRI's operations and pay for a lavish party to celebrate the company's alleged success.
Flores promised "guaranteed" returns of up to 25 percent within 45 days, according to the complaint. But she allegedly used only $5.6 million to invest in high-risk ventures and start-up companies that never paid MRI any returns. She allegedly ran the scam from 2006 through 2008.
The SEC seeks an injunction, disgorgement, and fines.
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USCIS Adjusting Premium Processing Fee
U.S. Citizenship and Immigration Services (USCIS) announced today it is adjusting the premium processing fee for Form I-129, Petition for a Nonimmigrant Worker and Form I-140, Immigrant Petition for Alien Workers beginning on Oct. 1, 2018 to more effectively adjudicate petitions and maintain effective service to petitioners.
The premium processing fee will increase to $1,410, a 14.92 percent increase (after rounding) from the current fee of $1,225. This increase, which is done in accordance with the Immigration and Nationality Act, represents the percentage change in inflation since the fee was last increased in 2010 based on the Consumer Price Index for all Urban Consumers.
“Because premium processing fees have not been adjusted since 2010, our ability to improve the adjudications and service processes for all petitioners has been hindered as we’ve experienced significantly higher demand for immigration benefits. Ultimately, adjusting the premium processing fee will allow us to continue making necessary investments in staff and technology to administer various immigration benefit requests more effectively and efficiently,” said Chief Financial Officer Joseph Moore. “USCIS will continue adjudicating all petitions on a case-by-case basis to determine if they meet all standards required under applicable law, policies, and regulations.”
Premium processing is an optional service that is currently authorized for certain petitioners filing Forms I-129 or I-140. The system allows petitioners to request 15-day processing of certain employment-based immigration benefit requests if they pay an extra fee. The premium processing fee is paid in addition to the base filing fee and any other applicable fees, which cannot be waived.