An Alameda resident has confessed to defrauding a minimum of 20 individuals in a Ponzi scheme totaling nearly $2 million, according to the U.S. Department of Justice. Long Nguyen, aged 35, pleaded guilty to four counts of wire fraud, acknowledging his involvement in the scheme that ran from September 2015 to July 2021.
In his plea agreement, Nguyen conceded to falsely portraying himself as a billionaire, misleading victims about investment opportunities, and the advantages of investing with him. However, he admitted that he used the funds from his victims to repay other victims, with most of the money never actually being invested but instead serving his personal interests.
To maintain the illusion of profit for victims, Nguyen generated fictitious financial statements with fabricated earnings. Nguyen’s sentencing is scheduled for February 2, and he could potentially face a maximum of 20 years in prison for each wire fraud count.
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}