SEC v. Lixin Azarmehr; JL Real Estate Development Corporation; Nevada Skilled Nursing Lender, LLC; and Nevada Skilled Nursing Development, LLC, No. 2:24-cv-00707-JCM, District of Nevada (Sept. 25, 2025) — Judgment

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REBECCA R. DUNNAN, ESQ.*
H.NORMAN KNICKLE, ESQ.*
*Admitted Pro Hac Vice
U.S. SECURITIES AND EXCHANGE
COMMISSION
100 F Street NE
Washington, D.C. 20549
(202) 551-3813 (Dunnan)
(202) 551-5907 (Knickle)
Email: [email protected]
[email protected]
Attorneys for Plaintiff
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
SECURITIES AND EXCHANGE
COMMISSION
Plaintiff,
vs.
LIXIN AZARMEHR, JL REAL ESTATE
DEVELOPMENT CORPORATION,
NEVADA SKILLED NURSING LENDER,
LLC, and NEVADA SKILLED NURSING
DEVELOPMENT, LLC,
Defendants.
CASE NO. 2:24-CV-00707-JCM-MDC
PLAINTIFF SECURITIES AND
EXCHANGE COMMISSION’S
UNOPPOSED MOTION TO
APPROVE CONSENTS AND FINAL
JUDGMENT AS TO ALL
DEFENDANTS
Plaintiff Securities and Exchange Commission (the “SEC” or the “Commission”) hereby
moves the Court to approve the attached Consents as to Defendants Lixin Azarmehr
(“Azarmehr”), JL Real Estate Development Corporation (“JL REDC”), Nevada Skilled Nursing
Lender, LLC (“Lender”), and Nevada Skilled Nursing Development, LLC (“Developer”)
(collectively, the “Defendants”). In support of this Motion, the Commission states as follows:
1.The Commission filed this case on April 11, 2024 alleging that the Defendants
had engaged in various violations of the federal securities laws.

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2. The Commission has reached a settlement with all Defendants.
3. Azarmehr has executed a Consent in this case (“Azarmehr Consent”) by which
she consents to, among other things, the jurisdiction of this Court and entry of an agreed Final
Judgment (“Final Judgment”) without a hearing, argument, or adjudication of any fact or law.
The Azarmehr Consent and the Final Judgment are attached hereto as Exhibits A and E,
respectively.
4. Azarmehr has also executed a Consent in this case on behalf of JL REDC (“JL
REDC Consent”) by which JL REDC consents to, among other things, the jurisdiction of this
Court and entry of an agreed Final Judgment without a hearing, argument, or adjudication of any
fact or law. The JL REDC Consent and the Final Judgment are attached hereto as Exhibits B  and
E, respectively.
5. Azarmehr has also executed a Consent in this case on behalf of Lender (“Lender
Consent”) by which Lender consents to, among other things, the jurisdiction of this Court and
entry of an agreed Final Judgment without a hearing, argument, or adjudication of any fact or
law. The Lender Consent and the Final Judgment are attached hereto as Exhibits C  and E,
respectively.
6. Finally, Azarmehr has also executed a Consent in this case on behalf of Developer
(“Developer Consent”) by which Developer consents to, among other things, the jurisdiction of
this Court and entry of an agreed Final Judgment without a hearing, argument, or adjudication of
any fact or law. The Developer Consent and the Final Judgment are attached hereto as Exhibits
D and E, respectively.
7. The Final Judgment permanently restrains and enjoins the Defendants from
violating Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. §

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78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5] and Section 17(a) of the Securities
Act of 1933 (“Securities Act”) [15 U.S.C. § 77q(a)].
8. As to monetary relief, the Final Judgment orders JL REDC to pay disgorgement
in the amount of $500,000.00 with prejudgment interest thereon in the amount of $200,000.00,
and a civil penalty of $500,000.00. Additionally, the Final Judgment orders Azarmehr to pay a
civil penalty of $75,000.00.
9. Finally, the Final Judgment also restrains and enjoins Defendants for a period of
10 years, from participating in the offer or sale of any security which constitutes, or is promoted
as constituting, a qualifying investment in a “commercial enterprise” under the United States
Government EB-5 visa program administered by the U.S. Citizenship and Immigration Service.
10. The entry of the Final Judgment would resolve all remaining issues before the
Court in this matter.
11. Accordingly, the undersigned respectfully requests the Court enter the Final
Judgment and administratively close this case.
WHEREFORE, the parties respectfully request that the Court enter the attached proposed
Final Judgment as to the Defendants.

Dated:      September 4, 2025

 By: /s/ Rebecca R. Dunnan
Rebecca R. Dunnan*
H. Norman Knickle*
*Admitted Pro Hac Vice
Attorneys for Plaintiff
Securities and Exchange Commission

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PROOF OF SERVICE
I am over the age of 18 years and not a party to this action.  My business address is:
U.S. SECURITIES AND EXCHANGE COMMISSION,
100 F STREET NE, WASHINGTON, DC 20549
Telephone No. (202) 551-3813; Facsimile No. (703) 420-6032.
On September 4, 2025, I caused to be served the document entitled PLAINTIFF SECURITIES
AND EXCHANGE COMMISSION’S UNOPPOSED MOTION TO APPROVE
CONSENTS AND FINAL JUDGMENT AS TO ALL DEFENDANTS on all the parties to
this action addressed as stated on the attached service list:

☐ OFFICE MAIL:  By placing in sealed envelope(s), which I placed for collection and
mailing today following ordinary business practices.  I am readily familiar with this agency’s
practice for collection and processing of correspondence for mailing; such correspondence would
be deposited with the U.S. Postal Service on the same day in the ordinary course of business.
☐ PERSONAL DEPOSIT IN MAIL:  By placing in sealed envelope(s), which I
personally deposited with the U.S. Postal Service.  Each such envelope was deposited with the
U.S. Postal Service at Los Angeles, California, with first class postage thereon fully prepaid.
☐ EXPRESS U.S. MAIL:  Each such envelope was deposited in a facility regularly
maintained at the U.S. Postal Service for receipt of Express Mail at Washington, DC, with
Express Mail postage paid.
☐ HAND DELIVERY:  I caused to be hand delivered each such envelope to the office of
the addressee as stated on the attached service list.
☐ UNITED PARCEL SERVICE:  By placing in sealed envelope(s) designated by United
Parcel Service (“UPS”) with delivery fees paid or provided for, which I deposited in a facility
regularly maintained by UPS or delivered to a UPS courier, at Washington, DC.
☐ ELECTRONIC MAIL:  By transmitting the document by electronic mail to the
following electronic mail addresses.
☒ E-   FILING:  By causing the document to be electronically filed via the Court’s CM/ECF
system, which effects electronic service on counsel who are registered with the CM/ECF system.
☐ FAX:  By transmitting the document by facsimile transmission.  The transmission was
reported as complete and without error.
I declare under penalty of perjury that the foregoing is true and correct.
Dated:  September 4, 2025
/s/ Rebecca R. Dunnan
                       Rebecca R. Dunnan

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UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

SECURITIES AND EXCHANGE
COMMISSION

                                    Plaintiff,

vs.

LIXIN AZARMEHR, JL REAL ESTATE
DEVELOPMENT CORPORATION,
NEVADA SKILLED NURSING LENDER,
LLC, and NEVADA SKILLED NURSING
DEVELOPMENT, LLC,

Defendants.
 CASE NO. 2:24-CV-00707-JCM-MDC

FINAL JUDGMENT AGAINST DEFENDANTS LIXIN AZARMEHR,
JL REAL ESTATE DEVELOPMENT CORPORATION, NEVADA SKILLED NURSING
LENDER, LLC, AND NEVADA SKILLED NURSING DEVELOPMENT, LLC

The Securities and Exchange Commission having filed a Complaint and Defendants
Lixin Azarmehr (“Azarmehr”), JL Real Estate Development Corporation (“JL REDC”), Nevada
Skilled Nursing Lender, LLC (“Lender”), and Nevada Skilled Nursing Development, LLC
(“Development”) (collectively, the “Defendants”) having entered a general appearance;
consented to the Court’s jurisdiction over Defendants and the subject matter of this action;
consented to entry of this Final Judgment without admitting or denying the allegations of the
Complaint (except as to jurisdiction and except as otherwise provided herein); waived findings
of fact and conclusions of law; and waived any right to appeal from this Final Judgment:
I.
 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Defendants are
permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the

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Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5
promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of
interstate commerce, or of the mails, or of any facility of any national securities exchange, in
connection with the purchase or sale of any security:
(a) to employ any device, scheme, or artifice to defraud;
(b) to make any untrue statement of a material fact or to omit to state a material fact
 necessary in order to make the statements made, in the light of the circumstances
 under which they were made, not misleading; or
(c) to engage in any act, practice, or course of business which operates or would
 operate as a fraud or deceit upon any person.
by, directly or indirectly, (i) creating a false appearance or otherwise deceiving any person, or (ii)
disseminating false or misleading documents, materials, or information or making, either orally
or in writing, any false or misleading statement in any communication with any investor or
prospective investor, about:
(a) any investment in or offering of securities;
(b) the use of investor funds; or
(c) the misappropriation of investor funds or investment proceeds.
 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’
officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with the Defendants or with anyone described in (a).
II.

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 IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that the
Defendants are permanently restrained and enjoined from violating Section 17(a) of the
Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any
security by the use of any means or instruments of transportation or communication in interstate
commerce or by use of the mails, directly or indirectly:
(a) to employ any device, scheme, or artifice to defraud;
(b) to obtain money or property by means of any untrue statement of a material fact
 or any omission of a material fact necessary in order to make the statements
 made, in light of the circumstances under which they were made, not misleading;
 or
 (c) to engage in any transaction, practice, or course of business which operates or
  would operate as a fraud or deceit upon the purchaser.
by, directly or indirectly, (i) creating a false appearance or otherwise deceiving any person, or (ii)
disseminating false or misleading documents, materials, or information or making, either orally
or in writing, any false or misleading statement in any communication with any investor or
prospective investor, about:
(a) any investment in or offering of securities;
(b) the use of investor funds; or
(c) the misappropriation of investor funds or investment proceeds.
 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’

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officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with the Defendants or with anyone described in (a).
III.
 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that pursuant to Section
21(d)(5) of the Exchange Act [15 U.S.C. § 78u(d)(5)], the Defendants are further restrained and
enjoined, for a period of 10 years, from participating in the offer or sale of any security which
constitutes, or is promoted as constituting, a qualifying investment in a “commercial enterprise”
under the United States Government EB-5 visa program administered by the U.S. Citizenship
and Immigration Service.
 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in
Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who
receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’
officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or
participation with the Defendants or with anyone described in (a).
IV.
IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant
JL Real Estate Development Corporation is liable for disgorgement of $500,000.00, representing
net profits gained as a result of the conduct alleged in the Complaint, together with prejudgment
interest thereon in the amount of $200,000.00, and a civil penalty pursuant to Section 21(d)(3) of
the Exchange Act [15 U.S.C. § 78u(d)(3)] in the amount of $500,000.00.  Defendant Lixin
Azarmehr is separately liable for a penalty of $75,000 pursuant to Section 21(d)(3) of the
Exchange Act [15 U.S.C. § 78u(d)(3)].  Defendants JL REDC and Azarmehr shall satisfy their
respective obligations by paying a total of $1,200,000.00 (JL REDC) and $75,000.00 (Azarmehr)

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to the Securities and Exchange Commission within 30 days after the entry of this Final
Judgment.
Defendants JL REDC and Azarmehr may transmit payment electronically to the
Commission, which will provide detailed ACH transfer/Fedwire instructions upon request.
Payment may also be made directly from a bank account via Pay.gov through the SEC website at
http://www.sec.gov/about/offices/ofm.htm
.  Defendants JL REDC and Azarmehr may also pay
by certified check, bank cashier’s check, or United States postal money order payable to the
Securities and Exchange Commission, which shall be delivered or mailed to
Enterprise Services Center
Accounts Receivable Branch
6500 South MacArthur Boulevard
Oklahoma City, OK 73169

 and shall be accompanied by a letter identifying the case title, civil action number, and name of
this Court; JL Real Estate Development Corporation and Lixin Azarmehr, respectively, as
Defendants in this action; and specifying that payment is made pursuant to this Final Judgment.
Defendants JL REDC and Azarmehr shall simultaneously transmit photocopies of
evidence of payment and case identifying information to the Commission’s counsel in this
action.  By making this payment, Defendants JL REDC and Azarmehr relinquishes all legal and
equitable right, title, and interest in such funds and no part of the funds shall be returned to
Defendants JL REDC and Azarmehr.
The Commission may enforce the Court’s judgment for disgorgement and prejudgment
interest by using all collection procedures authorized by law, including, but not limited to,
moving for civil contempt at any time after 30 days following entry of this Final Judgment.
The Commission may enforce the Court’s judgment for penalties by the use of all
collection procedures authorized by law, including the Federal Debt Collection Procedures Act,

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28 U.S.C. § 3001 et seq., and moving for civil contempt for the violation of any Court orders
issued in this action.   Defendants JL REDC and Azarmehr shall pay post judgment interest on
any amounts due after 30 days of the entry of this Final Judgment pursuant to 28 U.S.C. § 1961.
The Commission shall hold the funds, together with any interest and income earned thereon
(collectively, the “Fund”), pending further order of the Court.
The Commission may propose a plan to distribute the Fund subject to the Court’s
approval.  Such a plan may provide that the Fund shall be distributed pursuant to the Fair Fund
provisions of Section 308(a) of the Sarbanes-Oxley Act of 2002.  The Court shall retain
jurisdiction over the administration of any distribution of the Fund and the Fund may only be
disbursed pursuant to an Order of the Court.
Regardless of whether any such Fair Fund distribution is made, amounts ordered to be
paid as civil penalties pursuant to this Judgment shall be treated as penalties paid to the
government for all purposes, including all tax purposes.  To preserve the deterrent effect of the
civil penalty, Defendants shall not, after offset or reduction of any award of compensatory
damages in any Related Investor Action based on Defendants’ payment of disgorgement in this
action, argue that it is entitled to, nor shall it further benefit by, offset or reduction of such
compensatory damages award by the amount of any part of Defendants JL REDC and
Azarmehr’s payment of a civil penalty in this action (“Penalty Offset”).  If the court in any
Related Investor Action grants such a Penalty Offset, Defendants shall, within 30 days after entry
of a final order granting the Penalty Offset, notify the Commission’s counsel in this action and
pay the amount of the Penalty Offset to the United States Treasury or to a Fair Fund, as the
Commission directs.  Such a payment shall not be deemed an additional civil penalty and shall
not be deemed to change the amount of the civil penalty imposed in this Judgment.  For purposes

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of this paragraph, a “Related Investor Action” means a private damages action brought against
Defendants by or on behalf of one or more investors based on substantially the same facts as
alleged in the Complaint in this action.
V.

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of
exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the
allegations in the complaint are true and admitted by Defendant Azarmehr, and further, any debt
for disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant
Azarmehr under this Final Judgment or any other judgment, order, consent order, decree or
settlement agreement entered in connection with this proceeding, is a debt for the violation by
Defendant Azarmehr of the federal securities laws or any regulation or order issued under such
laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19).
VI.
 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain
jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment.
VII.

There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil
Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice.

Dated:  ______________, _____
____________________________________
UNITED STATES DISTRICT JUDGE

September 24, 2025.

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REBECCA R. DUNNAN, ESQ.* 
H. NORMAN KNICKLE, ESQ.*
*Admitted Pro Hac Vice
U.S. SECURITIES AND EXCHANGE
COMMISSION
100 F Street NE
Washington, D.C. 20549
(202) 551-3813 (Dunnan)
(202) 551-5907 (Knickle)
Email: [email protected]
[email protected]

Attorneys for Plaintiff 

UNITED STATES DISTRICT COURT 
DISTRICT OF NEVADA 

SECURITIES AND EXCHANGE 
COMMISSION 

Plaintiff, 

vs. 

LIXIN AZARMEHR, JL REAL ESTATE 
DEVELOPMENT CORPORATION, 
NEVADA SKILLED NURSING LENDER, 
LLC, and NEVADA SKILLED NURSING 
DEVELOPMENT, LLC,  

Defendants. 

CASE NO. 2:24-CV-00707-JCM-MDC 

PLAINTIFF SECURITIES AND 
EXCHANGE COMMISSION’S 
UNOPPOSED MOTION TO 
APPROVE CONSENTS AND FINAL 
JUDGMENT AS TO ALL 
DEFENDANTS  

Plaintiff Securities and Exchange Commission (the “SEC” or the “Commission”) hereby 

moves the Court to approve the attached Consents as to Defendants Lixin Azarmehr 

(“Azarmehr”), JL Real Estate Development Corporation (“JL REDC”), Nevada Skilled Nursing 

Lender, LLC (“Lender”), and Nevada Skilled Nursing Development, LLC (“Developer”) 

(collectively, the “Defendants”). In support of this Motion, the Commission states as follows: 

1. The Commission filed this case on April 11, 2024 alleging that the Defendants

had engaged in various violations of the federal securities laws. 

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2. The Commission has reached a settlement with all Defendants.  

3. Azarmehr has executed a Consent in this case (“Azarmehr Consent”) by which 

she consents to, among other things, the jurisdiction of this Court and entry of an agreed Final 

Judgment (“Final Judgment”) without a hearing, argument, or adjudication of any fact or law. 

The Azarmehr Consent and the Final Judgment are attached hereto as Exhibits A and E, 

respectively.  

4. Azarmehr has also executed a Consent in this case on behalf of JL REDC (“JL 

REDC Consent”) by which JL REDC consents to, among other things, the jurisdiction of this 

Court and entry of an agreed Final Judgment without a hearing, argument, or adjudication of any 

fact or law. The JL REDC Consent and the Final Judgment are attached hereto as Exhibits B and 

E, respectively.  

5. Azarmehr has also executed a Consent in this case on behalf of Lender (“Lender 

Consent”) by which Lender consents to, among other things, the jurisdiction of this Court and 

entry of an agreed Final Judgment without a hearing, argument, or adjudication of any fact or 

law. The Lender Consent and the Final Judgment are attached hereto as Exhibits C and E, 

respectively.  

6. Finally, Azarmehr has also executed a Consent in this case on behalf of Developer 

(“Developer Consent”) by which Developer consents to, among other things, the jurisdiction of 

this Court and entry of an agreed Final Judgment without a hearing, argument, or adjudication of 

any fact or law. The Developer Consent and the Final Judgment are attached hereto as Exhibits 

D and E, respectively. 

7. The Final Judgment permanently restrains and enjoins the Defendants from 

violating Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”) [15 U.S.C. § 

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78j(b)] and Rule 10b-5 thereunder [17 C.F.R. § 240.10b-5] and Section 17(a) of the Securities 

Act of 1933 (“Securities Act”) [15 U.S.C. § 77q(a)].  

8. As to monetary relief, the Final Judgment orders JL REDC to pay disgorgement 

in the amount of $500,000.00 with prejudgment interest thereon in the amount of $200,000.00, 

and a civil penalty of $500,000.00. Additionally, the Final Judgment orders Azarmehr to pay a 

civil penalty of $75,000.00.  

9. Finally, the Final Judgment also restrains and enjoins Defendants for a period of 

10 years, from participating in the offer or sale of any security which constitutes, or is promoted 

as constituting, a qualifying investment in a “commercial enterprise” under the United States 

Government EB-5 visa program administered by the U.S. Citizenship and Immigration Service. 

10. The entry of the Final Judgment would resolve all remaining issues before the 

Court in this matter.  

11. Accordingly, the undersigned respectfully requests the Court enter the Final 

Judgment and administratively close this case.  

WHEREFORE, the parties respectfully request that the Court enter the attached proposed 

Final Judgment as to the Defendants.  

 
Dated:      September 4, 2025 
 

 By: /s/ Rebecca R. Dunnan  
Rebecca R. Dunnan* 
H. Norman Knickle* 
*Admitted Pro Hac Vice 
Attorneys for Plaintiff 
Securities and Exchange Commission 
 

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PROOF OF SERVICE 

I am over the age of 18 years and not a party to this action.  My business address is: 

U.S. SECURITIES AND EXCHANGE COMMISSION, 
100 F STREET NE, WASHINGTON, DC 20549 
Telephone No. (202) 551-3813; Facsimile No. (703) 420-6032. 

On September 4, 2025, I caused to be served the document entitled PLAINTIFF SECURITIES 
AND EXCHANGE COMMISSION’S UNOPPOSED MOTION TO APPROVE 
CONSENTS AND FINAL JUDGMENT AS TO ALL DEFENDANTS on all the parties to 
this action addressed as stated on the attached service list: 
 
☐ OFFICE MAIL:  By placing in sealed envelope(s), which I placed for collection and 
mailing today following ordinary business practices.  I am readily familiar with this agency’s 
practice for collection and processing of correspondence for mailing; such correspondence would 
be deposited with the U.S. Postal Service on the same day in the ordinary course of business. 

☐ PERSONAL DEPOSIT IN MAIL:  By placing in sealed envelope(s), which I 
personally deposited with the U.S. Postal Service.  Each such envelope was deposited with the 
U.S. Postal Service at Los Angeles, California, with first class postage thereon fully prepaid. 

☐ EXPRESS U.S. MAIL:  Each such envelope was deposited in a facility regularly 
maintained at the U.S. Postal Service for receipt of Express Mail at Washington, DC, with 
Express Mail postage paid. 

☐ HAND DELIVERY:  I caused to be hand delivered each such envelope to the office of 
the addressee as stated on the attached service list. 

☐ UNITED PARCEL SERVICE:  By placing in sealed envelope(s) designated by United 
Parcel Service (“UPS”) with delivery fees paid or provided for, which I deposited in a facility 
regularly maintained by UPS or delivered to a UPS courier, at Washington, DC. 

☐ ELECTRONIC MAIL:  By transmitting the document by electronic mail to the 
following electronic mail addresses. 

☒ E-FILING:  By causing the document to be electronically filed via the Court’s CM/ECF 
system, which effects electronic service on counsel who are registered with the CM/ECF system.   

☐ FAX:  By transmitting the document by facsimile transmission.  The transmission was 
reported as complete and without error. 

I declare under penalty of perjury that the foregoing is true and correct. 

Dated:  September 4, 2025  
/s/ Rebecca R. Dunnan    

                       Rebecca R. Dunnan 

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UNITED STATES DISTRICT COURT 

DISTRICT OF NEVADA 

 
SECURITIES AND EXCHANGE 
COMMISSION 
 
                                    Plaintiff,  
 
vs.  
 
LIXIN AZARMEHR, JL REAL ESTATE 
DEVELOPMENT CORPORATION, 
NEVADA SKILLED NURSING LENDER, 
LLC, and NEVADA SKILLED NURSING 
DEVELOPMENT, LLC,  
 

Defendants. 

 CASE NO. 2:24-CV-00707-JCM-MDC 
 
 
 
 

   
 
 

FINAL JUDGMENT AGAINST DEFENDANTS LIXIN AZARMEHR,  
JL REAL ESTATE DEVELOPMENT CORPORATION, NEVADA SKILLED NURSING 

LENDER, LLC, AND NEVADA SKILLED NURSING DEVELOPMENT, LLC 

 
The Securities and Exchange Commission having filed a Complaint and Defendants 

Lixin Azarmehr (“Azarmehr”), JL Real Estate Development Corporation (“JL REDC”), Nevada 

Skilled Nursing Lender, LLC (“Lender”), and Nevada Skilled Nursing Development, LLC 

(“Development”) (collectively, the “Defendants”) having entered a general appearance; 

consented to the Court’s jurisdiction over Defendants and the subject matter of this action; 

consented to entry of this Final Judgment without admitting or denying the allegations of the 

Complaint (except as to jurisdiction and except as otherwise provided herein); waived findings 

of fact and conclusions of law; and waived any right to appeal from this Final Judgment: 

I. 

 IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that the Defendants are 

permanently restrained and enjoined from violating, directly or indirectly, Section 10(b) of the 

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Securities Exchange Act of 1934 (the “Exchange Act”) [15 U.S.C. § 78j(b)] and Rule 10b-5 

promulgated thereunder [17 C.F.R. § 240.10b-5], by using any means or instrumentality of 

interstate commerce, or of the mails, or of any facility of any national securities exchange, in 

connection with the purchase or sale of any security: 

(a) to employ any device, scheme, or artifice to defraud; 

(b) to make any untrue statement of a material fact or to omit to state a material fact 

 necessary in order to make the statements made, in the light of the circumstances 

 under which they were made, not misleading; or 

(c) to engage in any act, practice, or course of business which operates or would 

 operate as a fraud or deceit upon any person. 

by, directly or indirectly, (i) creating a false appearance or otherwise deceiving any person, or (ii) 

disseminating false or misleading documents, materials, or information or making, either orally 

or in writing, any false or misleading statement in any communication with any investor or 

prospective investor, about: 

(a) any investment in or offering of securities;  

(b) the use of investor funds; or 

(c) the misappropriation of investor funds or investment proceeds. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’ 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with the Defendants or with anyone described in (a). 

II. 

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 IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that the 

Defendants are permanently restrained and enjoined from violating Section 17(a) of the 

Securities Act of 1933 (the “Securities Act”) [15 U.S.C. § 77q(a)] in the offer or sale of any 

security by the use of any means or instruments of transportation or communication in interstate 

commerce or by use of the mails, directly or indirectly: 

(a) to employ any device, scheme, or artifice to defraud; 

(b) to obtain money or property by means of any untrue statement of a material fact 

 or any omission of a material fact necessary in order to make the statements 

 made, in light of the circumstances under which they were made, not misleading; 

 or 

 (c) to engage in any transaction, practice, or course of business which operates or  

  would operate as a fraud or deceit upon the purchaser. 

by, directly or indirectly, (i) creating a false appearance or otherwise deceiving any person, or (ii) 

disseminating false or misleading documents, materials, or information or making, either orally 

or in writing, any false or misleading statement in any communication with any investor or 

prospective investor, about: 

(a) any investment in or offering of securities;  

(b) the use of investor funds; or 

(c) the misappropriation of investor funds or investment proceeds. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’ 

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officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with the Defendants or with anyone described in (a). 

III. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that pursuant to Section 

21(d)(5) of the Exchange Act [15 U.S.C. § 78u(d)(5)], the Defendants are further restrained and 

enjoined, for a period of 10 years, from participating in the offer or sale of any security which 

constitutes, or is promoted as constituting, a qualifying investment in a “commercial enterprise” 

under the United States Government EB-5 visa program administered by the U.S. Citizenship 

and Immigration Service. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, as provided in 

Federal Rule of Civil Procedure 65(d)(2), the foregoing paragraph also binds the following who 

receive actual notice of this Final Judgment by personal service or otherwise:  (a) Defendants’ 

officers, agents, servants, employees, and attorneys; and (b) other persons in active concert or 

participation with the Defendants or with anyone described in (a). 

IV. 

IT IS HEREBY FURTHER ORDERED, ADJUDGED, AND DECREED that Defendant 

JL Real Estate Development Corporation is liable for disgorgement of $500,000.00, representing 

net profits gained as a result of the conduct alleged in the Complaint, together with prejudgment 

interest thereon in the amount of $200,000.00, and a civil penalty pursuant to Section 21(d)(3) of 

the Exchange Act [15 U.S.C. § 78u(d)(3)] in the amount of $500,000.00.  Defendant Lixin 

Azarmehr is separately liable for a penalty of $75,000 pursuant to Section 21(d)(3) of the 

Exchange Act [15 U.S.C. § 78u(d)(3)].  Defendants JL REDC and Azarmehr shall satisfy their 

respective obligations by paying a total of $1,200,000.00 (JL REDC) and $75,000.00 (Azarmehr) 

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to the Securities and Exchange Commission within 30 days after the entry of this Final 

Judgment. 

Defendants JL REDC and Azarmehr may transmit payment electronically to the 

Commission, which will provide detailed ACH transfer/Fedwire instructions upon request.  

Payment may also be made directly from a bank account via Pay.gov through the SEC website at 

http://www.sec.gov/about/offices/ofm.htm.  Defendants JL REDC and Azarmehr may also pay 

by certified check, bank cashier’s check, or United States postal money order payable to the 

Securities and Exchange Commission, which shall be delivered or mailed to  

Enterprise Services Center 
Accounts Receivable Branch 
6500 South MacArthur Boulevard 
Oklahoma City, OK 73169 
 

 and shall be accompanied by a letter identifying the case title, civil action number, and name of 

this Court; JL Real Estate Development Corporation and Lixin Azarmehr, respectively, as 

Defendants in this action; and specifying that payment is made pursuant to this Final Judgment.   

Defendants JL REDC and Azarmehr shall simultaneously transmit photocopies of 

evidence of payment and case identifying information to the Commission’s counsel in this 

action.  By making this payment, Defendants JL REDC and Azarmehr relinquishes all legal and 

equitable right, title, and interest in such funds and no part of the funds shall be returned to 

Defendants JL REDC and Azarmehr.   

The Commission may enforce the Court’s judgment for disgorgement and prejudgment 

interest by using all collection procedures authorized by law, including, but not limited to, 

moving for civil contempt at any time after 30 days following entry of this Final Judgment. 

The Commission may enforce the Court’s judgment for penalties by the use of all 

collection procedures authorized by law, including the Federal Debt Collection Procedures Act, 

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28 U.S.C. § 3001 et seq., and moving for civil contempt for the violation of any Court orders 

issued in this action.   Defendants JL REDC and Azarmehr shall pay post judgment interest on 

any amounts due after 30 days of the entry of this Final Judgment pursuant to 28 U.S.C. § 1961.  

The Commission shall hold the funds, together with any interest and income earned thereon 

(collectively, the “Fund”), pending further order of the Court.     

The Commission may propose a plan to distribute the Fund subject to the Court’s 

approval.  Such a plan may provide that the Fund shall be distributed pursuant to the Fair Fund 

provisions of Section 308(a) of the Sarbanes-Oxley Act of 2002.  The Court shall retain 

jurisdiction over the administration of any distribution of the Fund and the Fund may only be 

disbursed pursuant to an Order of the Court.    

Regardless of whether any such Fair Fund distribution is made, amounts ordered to be 

paid as civil penalties pursuant to this Judgment shall be treated as penalties paid to the 

government for all purposes, including all tax purposes.  To preserve the deterrent effect of the 

civil penalty, Defendants shall not, after offset or reduction of any award of compensatory 

damages in any Related Investor Action based on Defendants’ payment of disgorgement in this 

action, argue that it is entitled to, nor shall it further benefit by, offset or reduction of such 

compensatory damages award by the amount of any part of Defendants JL REDC and 

Azarmehr’s payment of a civil penalty in this action (“Penalty Offset”).  If the court in any 

Related Investor Action grants such a Penalty Offset, Defendants shall, within 30 days after entry 

of a final order granting the Penalty Offset, notify the Commission’s counsel in this action and 

pay the amount of the Penalty Offset to the United States Treasury or to a Fair Fund, as the 

Commission directs.  Such a payment shall not be deemed an additional civil penalty and shall 

not be deemed to change the amount of the civil penalty imposed in this Judgment.  For purposes 

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of this paragraph, a “Related Investor Action” means a private damages action brought against 

Defendants by or on behalf of one or more investors based on substantially the same facts as 

alleged in the Complaint in this action. 

V.  
 

IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of 

exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the 

allegations in the complaint are true and admitted by Defendant Azarmehr, and further, any debt 

for disgorgement, prejudgment interest, civil penalty or other amounts due by Defendant 

Azarmehr under this Final Judgment or any other judgment, order, consent order, decree or 

settlement agreement entered in connection with this proceeding, is a debt for the violation by 

Defendant Azarmehr of the federal securities laws or any regulation or order issued under such 

laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19). 

VI. 

 IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that this Court shall retain 

jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment. 

VII.  
 

There being no just reason for delay, pursuant to Rule 54(b) of the Federal Rules of Civil 

Procedure, the Clerk is ordered to enter this Final Judgment forthwith and without further notice. 

 
Dated:  ______________, _____ 

____________________________________ 
UNITED STATES DISTRICT JUDGE 

 

 

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September 24, 2025.

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