U.K. Penalizes Dolfin Execs Over Visa Fraud Involving Chinese Fugitive

(London) — The U.K.’s financial regulator has fined and banned former executives of Dolfin Financial (UK) Ltd. for orchestrating a “visa loan” scheme that helped nearly 100 Chinese nationals — including a fugitive billionaire — fraudulently obtain U.K. residency.

Between 2016 and 2019, Dolfin enabled the Chinese clients to secure Tier 1 investor visas by paying as little as 400,000 pounds instead of the legally required minimum of 2 million pounds.