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SmartBuy Outlet
by 8DonCo Mon Jun 03, 2019 5:26 pm
Man arrested in Garden Grove, accused of $3 million investment scheme targeting Vietnamese community
Police arrested Lo Van Tran, 42, of Fremont, on suspicion of stealing $3 million from investors in a Ponzi scheme targeting members of the Vietnamese community. (Photo courtesy of the Garden Grove Police Department)
A Bay Area man has been arrested on suspicion of targeting members of the Vietnamese community and persuading them to put millions of dollars into an investment scheme, police said.
Lo Van Tran, 42, of Fremont, was the owner SmartBuy Outlet, a discount retail business with two storefronts in Garden Grove, authorities said. He is accused of tricking more than 10 people to invest in the phony venture with a company that did not exist.
He was arrested on Thursday in Garden Grove, where the crimes allegedly took place.
He allegedly claimed to have ties to Zyp Corp., a fake logistics firm that was supposed to facilitate the purchase and sale of Apple products. Tran collected more than $3 million from his victims from June 2017 to February 2018, police said.
“He would falsely promise them a pre-determined return on their investment, based on their investment amount,” police said.
Authorities say they believe he used some of the money to pay off his initial investors and pocketed the rest instead of using it to generate profit. The majority of those who paid into the plan were of Vietnamese ethnicity.
Tran went on to create false financial documents to make his plan seem legitimate, police said.
Police arrested Lo Van Tran, 42, of Fremont, on suspicion of stealing $3 million from investors in a Ponzi scheme targeting members of the Vietnamese community. (Photo courtesy of the Garden Grove Police Department)
Police asked that any other victim contact Detective Thi Huynh at 714-741-5835.
Police arrested Lo Van Tran, 42, of Fremont, on suspicion of stealing $3 million from investors in a Ponzi scheme targeting members of the Vietnamese community. (Photo courtesy of the Garden Grove Police Department)
A Bay Area man has been arrested on suspicion of targeting members of the Vietnamese community and persuading them to put millions of dollars into an investment scheme, police said.
Lo Van Tran, 42, of Fremont, was the owner SmartBuy Outlet, a discount retail business with two storefronts in Garden Grove, authorities said. He is accused of tricking more than 10 people to invest in the phony venture with a company that did not exist.
He was arrested on Thursday in Garden Grove, where the crimes allegedly took place.
He allegedly claimed to have ties to Zyp Corp., a fake logistics firm that was supposed to facilitate the purchase and sale of Apple products. Tran collected more than $3 million from his victims from June 2017 to February 2018, police said.
“He would falsely promise them a pre-determined return on their investment, based on their investment amount,” police said.
Authorities say they believe he used some of the money to pay off his initial investors and pocketed the rest instead of using it to generate profit. The majority of those who paid into the plan were of Vietnamese ethnicity.
Tran went on to create false financial documents to make his plan seem legitimate, police said.
Police arrested Lo Van Tran, 42, of Fremont, on suspicion of stealing $3 million from investors in a Ponzi scheme targeting members of the Vietnamese community. (Photo courtesy of the Garden Grove Police Department)Police asked that any other victim contact Detective Thi Huynh at 714-741-5835.
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8DonCo
Re: SmartBuy Outlet
by dakao2 Mon Jun 03, 2019 6:46 pm
ổng có ngon thì đì lừa gạt tụi Mỹ đen Mỹ trắng đi
dakao2- Location : TX
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