There is an entire series of revelations contained in this article, and all of it deserves your undivided attention. We apparently have now entered into the investigative and legal phase of this scandal, and there is today an impressive array of government agencies on the case. The effort to bring down Steve Chen and John Wuo has become a very serious one.
That said, here are three passages that I thought really stood out.
Arcadia-based company connected to councilman under investigation
Now we all know John Wuo has claimed that he knew nothing about GemCoins, Steve Chen or his company, USFIA. So in what unlikely location did Pasadena Star News reporter Courtney Tompkins run into John Wuo on Monday?
Maybe Steve Chen and John Wuo were having a paper shredding party. Or dismantling some of that vast arsenal of high powered weaponry stashed at USFIA headquarters. Which, as you know, is the also home to the world renowned GemCoin empire. The crypto-currency that was used to defraud thousands of people both worldwide and right here in California.
But the really big news is contained in the final passage I am citing today.
That is quite an impressive array of Federal and state law enforcement firepower. My guess is that John Wuo, Steve Chen and the rest of the GemCoin gang are toast and even they know it.
Obviously we are now getting into the next level of what has become a very serious criminal investigation. Stay tuned.
Blow by blow BehindMLM.com article on last night's Arcadia City Council meeting
Here is how it kicks off:
There is a whole lot more, including news of how the Chinese Daily USA has scrubbed all references to GemCoins, John Wuo and Steve Chen from its website. The newspaper is owned by Councilmember Sho Tay. Click here.