SEC says big Ponzi scheme targeted investors in Japan

Your Health Matters

MRI International's company plate is seen at an entrance of the building where MRI International is located at in TokyoBy Jonathan Stempel (Reuters) – The Securities and Exchange Commission said it has uncovered an "extensive and egregious" Ponzi scheme run by a Las Vegas executive who raised more than $800 million from thousands of investors, mainly from Japan, over nearly 15 years. A federal judge this month imposed an asset freeze requested by the SEC against the defendants Edwin Fujinaga and his firm MRI International Ltd, court papers show. The regulator said Fujinaga, 66, and MRI promised to buy accounts receivable from U.S. …

facebookShare on Facebook
TwitterTweet
FollowFollow us
PinterestSave