Friday, November 11, 2016

FPPC To Fine Arcadia's Disgraced Former Mayor John Wuo For Failure To Report Earnings From GemCoins Work

The FPPC is about to slap a $2,000 fine on former Arcadia Mayor John "Johnny GemCoins" Wuo for his failure to report certain financial rewards gleaned from his participation in the now infamous GemCoins scam. Here is a letter detailing this development, sent out this week to a concerned Arcadia party by the Fair Political Practices Commission (FPPC).


Pretty intriguing stuff. If you go to the link included in this FPPC letter you will find the following description of what will go down at next week's 11/17 meeting.

Statement of Economic Interests Non-Reporters In the Matter of John Wuo; FPPC No. 15/1540. Staff: Commission Counsel Michael W. Hamilton and Special Investigator Garrett Micheels. John Wuo, a former member of the Arcadia City Council, failed to disclose on his 2014 and 2015 Annual Statements of Economic Interests that he received income from US Fine Arts Investments and that he had a business position as an officer with 24 HD Surveillance, in violation of Government Code Sections 87203, 87207, and 87209 (2 counts). Total Proposed Penalty: $2,000.  

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.

sierramadretattler.blogspot.com

22 comments:

  1. GemCoin not backed by amber mine?

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  2. Vote with your pocket book. Boycott all the companies and products that donated to the Trump campaign. The Koch brothers who own lots of companies. I had a partial list and will see if I can find more and post it. The Anti-apartide movement worked to get institutions to divest of their interests in So Africa. Boycotting Nestlé still after 40 years and head lettuce still as a reminder of César Chavez and the farmworkers Huelga!!!!

    ReplyDelete
    Replies
    1. The Ku Klux Klan says it will hold a Trump victory parade in North Carolina
      http://www.latimes.com/nation/politics/trailguide/la-na-updates-trail-guide-kkk-trump-north-carolina-1478822255-htmlstory.html

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    2. Clinton currently leads Pumpkin Spice by over 400,000 votes.

      Delete
    3. Trump is evil.

      Delete
    4. I am going to miss Harry Reid.
      Reid: Trump a 'sexual predator who lost the popular vote'
      http://www.politico.com/story/2016/11/harry-reid-trump-sexual-predator-231237

      Delete
  3. A day to remember.

    https://biggeekdad.com/2016/05/what-a-great-sacrifice/

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  4. I wonder if John Wuo cut himself a deal and will testify against Chen at the trial. Be a shame. Politicians always wiggle off the hook.

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  5. This website looks like it is still selling Gemcoins.
    http://www.makemoneyexpert.com/online/network-marketing/reviews/gemcoin-usfia/
    “If you own 1 GemCoin at $0.1257, this value will never be less than what you paid for.”

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    Replies
    1. Some of the claims on that site are a little hard to accept.

      "Ultimately, this currency is backed by amber. If amber continues to go up in price, then the price of GemCoins will also rise.

      GemCoin claims it’s the world’s first digital currency backed by intrinsic value. However, that title actually belongs to UFUN’s uToken, which introduced a similar currency last year. That currency is backed by gold reserves held by a private bank.

      In any case, USFIA claims that there are 20 million members of the GemCoin network who are “already trading and distributing” the virtual currency. The company also claims to maintain 3,000 offices and financial centers around the world."

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  6. This comment has been removed by a blog administrator.

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    Replies
    1. Enforcing laws violated by crooks like Wuo is covered in the state budget. Hundreds of dirtbags like Johnny GemCoins are sliced and diced every year by the FPPC. More importantly, this is the first admission of guilt for Johnny GemCoins. Yeah, the $2K isn’t much, but FPPC fines are never very high. The real damage is that he now has a judgement levied against him. Hopefully it opens the floodgates and Arcadia's three time mayor will find himself in jail.

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    2. Is Sho Tay being investigated?

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    3. Don't drop the soap, Johnny!

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  7. Interesting article in the Arcadia Weekly
    http://www.arcadiaweekly.com/news/city-council/chinese-american-equalization-association-demands-electoral-changes/

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  8. Trump is a disaster in so many ways that have already been listed ad nauseam.

    What I suspect will happen, though, is that he will show little loyalty to his RWNJ base, perhaps throwing them a few bones every now and then because he will need them again in four years. He has nothing in common with them, probably detests them and their inability to lift themselves up, and simply saw them as a means to an end.

    ReplyDelete
  9. Trump just fired fat Christie. Off to a fine start.
    http://www.latimes.com/politics/la-na-pol-trump-transition-20161111-story.html

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    Replies
    1. Mark Levin; 870 AM Radio. Laugh out loud. Just said; he's waiting for the Progressives to complain about moving a Minority Family out of the White House.

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    2. You actually listen to AM talk radio? Holy crap. Somebody take a picture. I thought the species was extinct!

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    3. Never heard of mark levin. Sounds like a loser

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    4. Yes, you see, without AM radio there would be no source of 'info' for the typical Dump supporter. They all need that drug addict Rush Limbaugh and others to do the thinking for them. That's how you get a loser like Dump elected.

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  10. J.Wuo, his kleenex costs more than $2,000.00.

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