Thursday, September 17, 2015

Arcadia Weekly: Gemcoin Investors Share Fraud Concerns With Arcadia Council

(Mod: Here is an important article published yesterday by the Arcadia Weekly's own Joe Taglieri - link. Coverage of the GemCoin scandal on The Tattler continues. The big questions now being - how much longer can events continue in Arcadia as they have? Do things such as intimidation and death threats have a place there?)


sierramadretattler.com

50 comments:

  1. Every investor was required to refer 2 more investors? Sounds like a classic pyramid "ponzi" scheme to me.

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    1. sounds like Amway....

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    2. @9:49 -- Steve Chen ran Amkey, an Amway clone. Coincidence?

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  2. When the 'Good Ole Girls' come out to ralley around and defend a fellow crooked politician, you know their is more to the allegations than just smoke in fact fire is burning out of control. Press the eject button on Wuo before he brings the whole house of cards down around city hall and exposes more crooked activities taking place in Arcadia city hall.

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  3. FBI need to move quickly. They destroy evidence. Victims very scared. Must all get together then no fear, It only way they will send crooks to jail. Wuo and Chen are liars and cheaters. They doing many illegal things. Police must help.

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    1. If you speak Mandarin you will know it's an obvious attempt to "fake" a Chinese speaker for whatever reason.Probably so Op can post a reply to own post.

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    2. You could take it a step further. Maybe the OP has replied more than once. Including deploring his original post.

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    3. Yup. 6:47 is a total fake. Just post what you want to say. The issue at hand has enough coverage going that you do not have to attempt to drum up more support by pretending to be Asian. Good call 8:37!

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    4. 8:05 nailed it too

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  4. The old lady friend of Wuo. She actually power hungry too seems like. She not know anything going on. Old crooked politician maybe also.

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    1. Which one? Don't leave us in suspense here. :D

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    2. Why are there so many fake Mandarin posts? Once again, your obvious attempt is fake.

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    3. Who cares? You're harping on this doesn't improve anything.

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    4. Well, it improves the quality of the reader comments. That's a start.

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    5. Gosh. So how do we improve yours?

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  5. So Sho didn't know how to help the investors? How about direct them to the police?

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    1. Or even better, going with them to the police?

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    2. For once maybe Tay has done something right by telling the investors to seek out Arivisu and the Highland people for help.

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  6. If I were one of the 4 Arcadia City Council members other than Wuo, I would be asking him personally to resign.

    Better that, than to bring shame onto the entire council and the City of Arcadia.

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    1. It's sad Kovacic has to sit through this mess.

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  7. I think the EB-5 investor connection is key. That's why they took it off their website. I think they committed organized fraud against the federal immigration rules to get Chinese nationals these visas. They have criminal liability over that as well. I hope the FBI is going to connect all these dots. There's alot going on here.

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    1. Investment visa is a frequent bait. Phil Ming Xu of "WCM777" ponzi also used EB-5 (investing into his own companies, of course). and he got nailed by SEC last year. I think his receivership just started taking claims from victims. What's funnier, PMX also operated in the LA area: San Gabriel / El Monte I think.

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    2. Who are you Kasey Chang? Would love to read everything that you know. Keep up the good work.

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  8. John Wuo has used the City of Arcadia and his position as councilman for his own self-aggrandizement in a very corrupt manner. He needs to resign immediately and then turn himself in to authorities.

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    1. The Fish rots from the head.

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  9. Two Chinese national in Pasadena were recently arrested for arranging fraudulent weddings. That's jaywalking compared to what Chen and Wuo are guilty of. You have the Ponzi scheme but also the EB-5 Visa immigration fraud as well. They are destroying records and documents as this is being written. The FBI needs to raid their offices immediately. What the hell do they think Wuo was doing over there at the office of GemCoin and Chen on Monday. Destruction of evidence is also a crime. This conspiracy is so far-reaching that the RICO statue needs to be invoked to give the authorities wide-ranging authority to seize assets and conduct their investigation.

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    1. Don't forget to mention communism

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    2. The only one doing that is you.

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    3. What the hell is our Federal government doing to us? This EB-5 pay-to-play green card thing has got to be immediately rescinded, where are our representatives in Washington? Riding the "Citizens United" gravy train and watching the Republican Clown Car show? Everyone is selling out for the bucks and our cities and states are coming unglued with corruption.

      Note: In a 5-4 ruling, the Supreme Court Justices declared unconstitutional the government restriction on “independent” political spending by corporations and unions, and determined the anti-Clinton broadcast should have been allowed. An explosion in independent political spending ensued in the decision’s aftermath.

      http://reclaimdemocracy.org/who-are-citizens-united/

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    4. The EB-5 program was a Bill Clinton innovation. Sorry to ruin your GOP attacks, 8:43. Facts matter.

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  10. I wonder what kind of coverage this story is getting in the Mountain Views News...

    Not including the police blotter.

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    1. No coverage at all. The Mountain Views News doesn't do news.

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    2. The MVN covers the bottom of bird cages pretty well.

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    3. It's absorbent.

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    4. my bird said it's poop is too valuable to be wasted on the mtn view news

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  11. I'm just throwing this out there. Remember the apparently random shooting of a Chinese man on or near Golden West Blvd a couple of months ago (the gunfire could be heard in Sierra Madre) Makes one wonder if this could be connected?

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  12. All Mr. Wuo need do is claim he was fooled by GemCoin and he is in the clear with no loss except to his reputation.

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    1. @10:47A -- to a politician, reputation is all that matters.

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    2. True. How can you run a decent scam when everyone knows you're a crook?

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  13. USFIA promo in Taiwan... They claimed that the ring and the necklace this actress wore is worth almost 1 million bucks.

    sites.google.com/site/leadernews201412/ji-pai-mei-mei-guo-tou-zi-lian-meng-ji-tuan-zhen-bao-bi-tai-wan-qi-dong-da-hui-xing-gan-liang-xiang/%E9%9B%9E%E6%8E%92%E5%A6%B9%20%20%E7%8F%8D%E5%AF%B6%E5%B9%A3.JPG?attredirects=0

    Hilarious, folks, hilarious.

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  14. Oz dug up a fresh video... Steve Chen announcing opening of USFIA Club... at his own McMansion

    https://youtu.be/ZV9f_eQlhFk

    And remember they said he had nothing to do with Gemcoin?

    @4:53 in the video the guy said, in Chinese, "I am very glad to come to boss's mansion for ribbon cutting" (Boss referring to Steve Chen, of course)

    Then the next guy announced the date, and said, in Chinese, "Today, is a great day for the Gemcoin family and friends, because Gemcoin's USFIA Club is officially open today!"

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  15. Different topic - the Sierra Madre Planning commission tonight. The return of the Felikians requesting permission to build their mansion. It'll be interesting to see how well the rules in place guide the commissioners and the applicants.
    Hoping for a win-win, for the property owners and for their neighbors.

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    1. Big house, huge lot.
      Not my cup of tea, but I don't object because the land can support a starter castle.

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    2. Single story, agreeable to restriction that the lot could never be split - sounds pretty good.

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    3. The rules worked like they were supposed to.

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  16. Why have no city council members expressed outrage or concern over allegations of an illegal ponzi scheme run out of Arcadia that has victimized a number of residents? I couldn't believe that neither Beck or Kovacic, or city manager Lazarretto, or Chandler or Tay said anything. Not even a summary comment or directive to have the city look into it - examine the business license, confirm the police department is following up, etc. No expression of moral outrage. They just sat there while victims told their stories and residents lambasted councilman Wuo.

    Allegations of a ponzi scheme and testimony by victims should have their blood boiling, just as claims of maternity hotels, EB-5 shops, illegal gambling and pot farms in vacant homes - all of which have occurred or are occurring still in Arcadia - should elicit moral outrage and a call to action.

    But not one ounce of moral outrage has been expressed. Unbelievable. Their silence makes them all complicit to a degree. There is no Sargent Schultz defense for any of them.

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  17. Fox News has now picked up the Wuo story nationally.

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