Gambling, Jets, and Mansions<\/strong><\/h2>\nBut the whole thing is alleged to have been a massive Ponzi scheme that came crashing down around 2013. According to the indictment, the defendants used new investment funds to pay older investors, while squandering millions on \u201cgambling habits \u2026 personal travel by private jet and other personal expenses.\u201d<\/p>\n
Fujinaga splurged his ill-gotten gains on a mansion on a Las Vegas golf course and real estate in Beverly Hills, California wine country, and Hawaii, as well luxury cars – Bentleys, McLarens, and Bugattis.<\/p>\n
\u201cThese indictments are a reminder of the FBI\u2019s determination to identify, investigate and bring to justice those who are committing financial crimes against innocent consumers,\u201d said Special Agent in Charge Laura Bucheit. \u201cWe are appreciative of the continued support we receive from our international, federal, state and local law enforcement partners.\u201d<\/p>\n
A Nevada jury took less than three hours to find the Fujinaga guilty last year. He is due to be sentenced on May 29. The Suzukis are due to make their first court appearance in Nevada on Friday.<\/p>\n","protected":false},"excerpt":{"rendered":"
Two former executives of Las Vegas-based investment company MRI International — an alleged $1.5 billion Ponzi scheme — have been extradited to the US from Japan, the DOJ announced Thursday. Prosecutors allege that Japanese nationals Junzo Suzuki, 70, and Paul Suzuki, 40 \u2013 along with Edwin Fujinaga, 72, who was convicted of fraud and money-laundering […]<\/p>\n","protected":false},"author":36,"featured_media":103353,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,10],"tags":[],"acf":[],"yoast_head":"\n
Japanese High-Rolling $1.5 Billion Ponzi Schemers Extradited to US<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n