Business owner arrested, charged in $9 million San Francisco investment fund fraud

  • 📰 KPIXtv
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 53%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

A federal grand jury in San Francisco has indicted a business owner for defrauding investors and a bank to the tune of over $9 million, the U.S. Department of Justice said Monday.

Joon Woo Kim, 57, of the City of Montebello in Los Angeles County, was arrested Monday in New Haven and appeared in U.S. District Court in Connecticut to face the charges.

For example, Kim is accused of advertising that he would invest assets from the M5 Doctors Fund in securities for Tesla, Inc. and other electric vehicle companies. Instead, he allegedly transferred nearly all the funds into a wholesale food company owned by he and his wife.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 443. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines