Broward CEO settles SEC charges of misusing EB-5 investor funds
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Jason Adam Ogden, CEO of Weston-based smoothie and yogurt franchises Juiceblendz and Yoblendz, settled a civil charge that he misused more than $1 million of investor funds through the EB-5 visa program.
This is the latest in a growing number of cases alleging misuse of EB-5 funds, which are supposed to create jobs at new business ventures in exchange for awarding green cards. Each investor must create at least 10 jobs.
Juiceblendz CEO Jason Adam Ogden in 2011.
The Securities and Exchange Commission announced Wednesday that its Fort Worth Regional Office had filed civil charges of violating securities laws in U.S. District Court for the Southern District of Florida against Ogden and AJN Investments. The case was settled with Ogden agreeing to repay $1 million in investor funds, plus $41,024 in interest and a $160,000 penalty. Ogden did not admit or deny the allegations.