Two former investment executives from Japan have pleaded guilty in Las Vegas to wire fraud in what prosecutors have called a $1.5 billion international Ponzi scheme with 10,000 victims in the U.S. and abroad.
Junzo Suzuki and his son, Paul Suzuki, entered their pleas Wednesday in U.S. District Court in a plea deal that has each man facing five years in federal prison and three years of supervised release, according to court records.
Read the full story: https://www.chron.com/news/local/article/Father-son-from-Japan-guilty-in-Vegas-in-1-5B-16754928.php
That is INSANE! With 10k people, they managed to rack up 1.5 billion. I don't even know how something like this could happen. Just goes to show you have to be careful in Vegas when it comes to people asking for information or money!
This seems like it would be involving a lot more people and they were the only two that got caught. I mean the ones at the top should be dealt the hardest hand but still. Something doesn't add up.
I am thinking the same thing. Like there is no way this was a two-man operation. I feel like more and more will come to light about this story in the coming years and I can bet you, someone makes a movie out of it! Mark my words!!
I heard about this but not in great detail. It is nuts to think they were able to do this here without even being citizens. I can't imagine what else people do down there that no one knows about!