Rags-to-riches story will likely end in prison for Seattle-area real-estate developer Dargey

Embattled real estate developer Lobsang Dargey has dropped his fight against a federal lawsuit accusing him of defrauding investors and misusing their money. The proposed settlement with the U.S.

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Rags-to-riches: Bellevue developer who conned hundreds gets 4 years in prison Originally published August 4, 2017 at 1:39 pm Updated August 23, 2017 at 4:26 pm

Dargey faces up to 10 years in prison and a $24 million fine. It’s up to the USCIS to determine the fate of more than 200 investors who now have no qualified investment and face the possibility.

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Developer Lobsang Dargey was sentenced Friday for conspiracy to commit wire fraud and concealing information from the federal government, charges that stemmed from his diversion of millions of dollars gathered from some 280 Chinese investors who hoped to earn green cards for permanent U.S. residency under the EB-5 visa program.

The reason he is where he is now is because of his incredible dedication to hard work, a trait he has tried to instill in me. To put it one way, the only way I will ever feel if I have lived up to his expectations is if add an M.D. to my name. (Working on that!) That is my fathers literal rags to riches story.

Prosecutors: Thieves posing as ‘Cherokees’ duped Seattle utility head, stole 21 tons of copper wire Seattle police claim con men hit three other Washington businesses, untold others elsewhere.