Seattle Times: Feds Suing Developer of Potala Place in Everett

MyEverettNews.com news partner The Seattle Times is reporting that the United States Securities and Exchange Commission today filed a lawsuit against Lobsang Dargey who developed Potala Village at Rucker and Pacific and is developing the Patola Place project at the intersection of Wall and Grand Streets. Here’s an excerpt from the Times story…

Dargey used $2.5 million to buy a home in Bellevue, the SEC alleged. He also made cash withdrawals of investor funds totaling $350,000, including more than $200,000 at 14 different casinos in Washington, Nevada, California and British Columbia, the SEC alleged.

You can see the full Seattle Times article here.

MyEverettNews.com first introduced Dargey and Path America to Everett back in 2011 as the City of Everett expanded its EB-5 regional center. You can read about that here.