As you might or might not recall, the so-called "US Fine Arts Investments" group was headed by a guy named Steve Chen, the swindler responsible for a bogus investment tool known as GemCoins. An ersatz bitcoin-style crypto-currency supposedly backed by (mostly nonexistent) amber mines. Something that at the time was being offered by USFIA to Chinese immigrants straight off the boat and heading to that McMansion wonderland of opulence and faux American grandeur known as Arcadia.
John Wuo, who was almost always referred to as the "Mayor of Arcadia" in US Fine Arts Investments propaganda, is alleged to have lent the prestige of his high city office to support this scam. Something that he was apparently generously compensated for in such things as pay, shares, commissions, etc. In short, cold hard cash. Much of it obtained illegally.
Why he would not want to report his take to the FPPC is no mystery when you consider that he likely knew the whole GemCoins scheme was a criminal enterprise. Even while he was pitching it at tawdry staged events filled with very innocent and gullible people.
Of course, back in the day John Wuo denied knowing anything about the GemCoin scam. A claim that the FPPC doesn't seem to have taken very seriously. This from the always informative BehindMLM.com blog (link):
I guess that "no compensation" lie is now out the window, right? You can link to the FPPC's document detailing Johnny GemCoin's sad and pathetic denouement by clicking here. Wuo is expected to sign this document, in the process admitting his culpability in this heartless fraud.
Steve Chen goes on trial for his GemCoins crimes early next year. What John Wuo's role will be in this important legal event remains a mystery.