Joop Bollen EB-5 Scandal Plea Deal: No Jail time

Joop Bollen's change of plea court appearance on February first ended with the EB-5 scandal laden defendant pleading guilty to one of the five felony counts against him.

According to Cory Heidelberger, who attended the courtroom procedure, the charge stems from a $300,000 transaction in February 2012 where Bollen used South Dakota EB-5 funds to purchase Tiff Bonds in Brown County in regards to the start of the Aberdeen beef processing plant, that was also tied in with foreign EB-5 investors. The money in question was fully returned.

In the plea deal, Bollen will be assessed a $2,000 fine, be subject to two years probation and random drug testing.  Bollen also agreed to truthfully answer and further questions regarding any potential future investigations regarding the EB-5 program in South Dakota. He will have no restrictions on travel or business practices in the future.

Questionable antiquities purchased by Bollen were not addressed as they were associated with one of the other Felony counts that was being dismissed during the plea deal.