SEC Files Charges Against Husband-And-Wife Team Over Promised Cancer Treatment Center
Charles C. Liu and Xin “Lisa” Wang, who raised $27 million to build a proton beam radiation therapy center, are facing allegations that the money was misused.
The Orange County Register:
Missing Cancer Center: SEC Files Fraud Charges Against Laguna Niguel Couple
The Securities and Exchange Commission has filed fraud charges and frozen the assets of a Laguna Niguel husband-and-wife team accused of misusing money raised for a cancer treatment center. Charles C. Liu and Xin “Lisa” Wang raised $27 million from 50 investors in China to build a proton beam radiation therapy center in Southern California, the SEC complaint states. The couple in promotional materials said the project would create more than 4,500 new jobs across the region and have a substantial impact on the local economy while giving foreign investors an opportunity for future U.S. residency, the SEC stated. (Madans, 6/7)