April 25, 2025 #1 Local News, Information and Event Source for the Century City/Westwood areas.

Orange County Attorney Accused of Defrauding Investors

An Orange County attorney allegedly defrauded investors wanting to participate in an investor program for well-heeled immigrants, using their money to buy a yacht and further his other businesses, according to a suit filed by the Securities and Exchange Commission.

Emilio Francisco is accused of raising $72 million from investors in China through his marketing firm PDC Capital Group. The money was to be invested in restaurants, assisted-living facilities and renovating a production facility for environmentally friendly agriculture and cleaning products, The Orange County Register reported.

The SEC alleges that Francisco diverted investor funds from one project to another and stole at least $9.6 million to finance his own business and lifestyle.

Under the EB-5 program, foreign investors can apply to permanently live and work in the U.S. if they invest in projects that create American jobs.

Francisco’s PDC Capital and 20 other businesses are charged with violating Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. The SEC is seeking to freeze its assets.

Costa Mesa-based PDC Capital could not be reached for comment.

The suit filed in federal court in Los Angeles Tuesday indicates the SEC wants Francisco and his companies banned from soliciting EB-5 investments and to pay investors back.

 

Money

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