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Two New Yorkers used Trump photo in $27 million investment scam

'19.07.2022'

Nadezhda Verbitskaya

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Two New Yorkers were arrested on July 18 in a federal criminal case. They are accused of a nearly decade-long investment fraud scheme totaling $27 million. In 2017, they even used the campaign of then-president Donald Trump to deceive their victims. CNBC.

Sherry Xue Li and Liangbo Wang lured more than 150 victims into a fictitious project to build an educational institution in Sullivan County. They claimed that the project had the support of prominent politicians. Many of the victims of the scam were foreign nationals living outside the United States.

They also promised investors green cards, as well as dividends for their financial support of the Thompson Education Center (as the fictitious project was called).

The couple used the money to pay for personal expenses such as clothing, jewelry, lodging, recreation and high-end food, as well as illegal political donations.

Li, 50, and Wang, 45, charged 12 foreign nationals $93 per person for admission to a Trump campaign in June 000. They illegally contributed $2017 in political contributions to the committee that organized the event.

“Li, Wang and their foreign guests attended the fundraising event on June 28, 2017. And then they took a picture with Trump, ”the US Attorney’s office said.

They later used a photo with the President to raise funds for the project.

Using foreign money to fund federal political campaigns in the US is illegal. Li and Wang were both born and raised in China, but are US citizens.

Prosecutors said Li and Wang used investor funds to make political contributions to other political events. There they were photographed with officials. And then they used these photos to attract investments from foreign citizens.

In 2017, Lee donated over $32 to the Republican National Committee. And she issued press releases touting her presence at Trump's inauguration.

On the subject: Donald Trump Loses Appeal: Now He Must Testify in New York Attorney General's Investigation

Lee also donated $55 to Andrew Cuomo's 000 re-election campaign (he eventually won the election and became governor of New York). And more than $2014 that same year to the Republican Party Election Committee.

Li and Wang are charged with conspiracy to commit wire fraud, conspiracy to commit money laundering and conspiracy to defraud the United States.

Prosecutors, in a letter to Judge Ramon Reyes, called the defendants a fugitive because of the seriousness of the alleged crimes and overwhelming evidence of their guilt. And also because of their long-standing ties and trips to China, which does not have an extradition treaty with the United States.

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