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

Thank you so very much for your guidance, patience, and expertise.

Beth and Steve K.

LATEST NEWS AND ARTICLES

August 16, 2022
SEC Warns Financial Advisory Firms Regarding Conflicts of Interest Tied to Compensation

The Securities and Exchange Commission (SEC) has sent a warning to financial advisory firms that they must go above and beyond solely disclosing conflicts of interest related to employee pay programs in order to avoid regulatory scrutiny. 

August 15, 2022
FINRA Proposal Would Permit Private Homes to Serve as Non-Branch Offices

The Financial Industry Regulatory Authority (FINRA) has filed proposed changes to FINRA Rule 3110 with the Securities and Exchange Commission (SEC).

August 12, 2022
SEC Charges J.P. Morgan, UBS, and TradeStation for Deficiencies Pertaining to the Prevention of Customer Identify Theft

The Securities and Exchange Commission (SEC) has charged J.P. Morgan Securities, UBS Financial Services, and TradeStation Securities over deficiencies in their programs designed to prevent client identify theft, which violates the SEC’s Identity Theft Red Flags Rule, or Regulation S-ID.