More than 100 victims are tied up in a $39 million Ponzi scheme run by 41-year-old Derek Chu of Alamo, according to federal prosecutors.
He was arrested May 2 and indicted for running a scheme and spending at least $7 million to fund his own lavish lifestyle. He is accused of conning victims to invest in a fake scheme to buy and resell tickets and luxury suites at Oracle Arena, Staples Center and Chase Center between 2013 and 2020.The indictment alleges that Chu lured unwitting investors by making materially false misrepresentations, including how the investor funds would be used, and how investors would be repaid.
Kingsley, as he prefers to be called for this story, spoke to KPIX reporter Betty Yu on behalf of his mom, a San Francisco resident, who is out more than $3.5 million. "Closer to 2016 is when all the money deals started happening, where it'd start out as, 'Hey, if you give me some money I can give you some interest, right? 11%, 18%.' Sounds really good," said Kingsley.
Mak filed an initial police report in 2019, when SFPD began investigating. Soon after, more victims shared similar stories with Mak.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
100-year-old WWII veteran plans to bench press 100 pounds this year: ‘That’s my goal’WWII veteran Warner Schlaupitz aims to bench press 100 pounds at Delaware's senior olympics in September. He works with a personal trainer and credits his healthy and active lifestyle to his longevity.
Baca lebih lajut »
USD/CAD Price Analysis: Loonie bears attack 100-DMA ahead of US/Canada employment reportsUSD/CAD Price Analysis: Loonie bears attack 100-DMA ahead of US/Canada employment reports USDCAD Technical Analysis Employment ChartPatterns NFP
Baca lebih lajut »
SPD: Search for stolen motorcycle leads to seizure of guns, 100 lbs of marijuanaThe search for a stolen motorcycle led Seattle Police to seize a half-dozen guns and a hundred pounds of marijuana on Wednesday. FOX13
Baca lebih lajut »
Ranking the top 100 golf courses in Texas: Nos. 1-50 (2023)The Texas Golf 2023 rankings are a team effort. The 75 Dallas Morning News panel members were given a ballot of 288 courses and asked to rate them on a 10-point...
Baca lebih lajut »
Warriors defeat Lakers 127-100 in blowout Game 2 victoryThat’s how you do it Dubs! warriors take care of business beating the Lakers 127-100 in Game 2, tying up the series before heading back to Los Angeles for Games 3 and 4. DubNation GoldBlooded WarriorsGround NBAPlayoffs
Baca lebih lajut »