SIOUX FALLS, S.D. (KELO AM) - 53-year-old Joop Bollen of Aberdeen is pleading guilty to unauthorized disposal of personal property in connection with the investigation into the EB5 and SDRC case.
A class six felony, Bollen was sentenced to two years probation and a $2,000 fine.
South Dakota Attorney General Marty Jackley says he's "pleased that Bollen has accepted responsibility and admitted wrongdoing for the misuse of funds."
Jackley goes on to say that this "matter has been resolved favorably for the State, and Bollen has agreed to cooperate in the future if needed."
SDRC, Inc, oversaw the EB5 program in South Dakota until 2013. The private firm managed South Dakota's investment-for-visa program.
Bollen was initially charged with five felonies accused of misappropriating over a million dollars from SDRC, a center that handled the EB5 program in South Dakota.
