Jenni Yoon Jeong Lee

The Securities and Exchange Commission (SEC) has filed a civil action against Jenni Yoon Jeong Lee (also known as Jenni Lee or Yoon Jeong Lee) and her company, Evergreen Property Developments LLC, for allegedly defrauding over 33 investors, primarily elderly members of the Korean-American community in the Seattle area, out of approximately $2.7 million over a nearly nine-year period.

According to the SEC’s complaint, from May 2015 through March 2024, Lee posed as a licensed investment adviser and used her family and cultural ties to gain the trust of her victims. She promised to invest their money in legitimate businesses capable of providing returns. Instead, she directed the funds to Evergreen and other entities she controlled, none of which had any real operations or ability to generate profits.

The SEC also alleges that Lee encouraged some investors to open self-directed retirement accounts (SDIRAs) and then secretly accessed those accounts to purchase unsecured promissory notes in her companies. Rather than delivering returns, Lee allegedly used the money to make Ponzi-like payments to earlier investors, pay personal expenses, and support her gambling habit.

The SEC is seeking permanent injunctions, disgorgement of ill-gotten gains, and civil penalties. A parallel criminal investigation is ongoing.

If you invested with Jenni Yoon Jeong Lee or Evergreen Property Developments LLC and believe you suffered losses, contact the securities attorneys at ChapmanAlbin. We represent investors nationwide in recovering losses caused by broker misconduct and investment fraud.

Call (877) 410-8172 or visit www.chapmanalbin.com to schedule a free consultation.