Nevada Based Ponzi Scheme Targeted Japanese Investors

Posted on December 7th, 2014 at 5:15 PM
Nevada Based Ponzi Scheme Targeted Japanese Investors

From the Desk of Jim Eccleston at Eccleston Law Offices:

The SEC has charged Edwin Fujinaga, a Nevada-based businessman,  and his company MRI International, Inc. with orchestrating an $800 million Ponzi scheme

The SEC alleges that Fujinaga raised more than $800 million from thousands of investors living primarily in Japan. He did so by promising that the money would be used to buy medical account receivables from medical providers at a discount through MRI. In fact, Fujinaga used the investments to pay back earlier investors and to support his luxury lifestyle. By May 2013, the investors' funds were depleted entirely.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: SEC, Edwin Fujinaga, MRI International Inc, Ponzi scheme

Return to Archive

TESTIMONIALS

Previous
Next

Jim, Stephany and the whole team were a God send.  We felt like we were put into a situation where we had no advocate. Jim’s team came in with a strong, well laid out strategy on how to get our story heard. Where our outside compliance company had no ability to help, our Broker Dealer was impenitent, and the regulators were aggressive pursuing vague rules, Jim came like a barricade against an assault we did not understand. Though you pay member dues to be affiliated with FINRA and a B/D, you have no voice. The only thing that is truly heard in this un-level playing field is a bulldog’s bark like Jim’s. I would encourage anyone to call Jim and his team to find a real ally in the tough and complicated world of securities regulation. They are truly the best.

Greg P.

LATEST NEWS AND ARTICLES

April 18, 2024
SEC Fines Target Off-Channel Communications

The Securities and Exchange Commission (SEC) is ramping up its enforcement efforts targeting off-channel communications, particularly text messages, among investment advisory firms.

April 17, 2024
B. Riley Financial Again Delays Filing Audited Results

B. Riley Financial Inc. has encountered a setback in filing its audited results within an extended timeframe, adding to existing pressure amid concerns raised by short sellers regarding its association with a former business partner.

April 16, 2024
Former Wells Fargo Advisor Accepts Industry Bar Amidst Misuse of Client Funds Allegations

A former advisor with Wells Fargo Advisors Financial Network (FiNet) in Chicago, Jayson R. Pocius, has agreed to accept an industry bar rather than cooperate with a
Financial Industry Regulatory Authority (FINRA) investigation into allegations of misusing client funds.