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

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