A Chinese-operated real estate company has been luring investors for years with false investment projects, employing tactics reminiscent of a Ponzi scheme to continuously rake in cash. This method, which uses the funds from new investors to pay returns to earlier ones, has left many members of the Chinese community in Southern California facing significant losses. To date, the fraudulent activities may have amassed as much as $10 million, predominantly affecting Chinese victims. What are the origins of this scam, and what progress has been made in the case? Today, we at the World Journal will delve into the details and uncover the facts.
For a detailed written report on the case, please refer to the September 13 edition of the Los Angeles World Journal.
