Feds say 2 NY residents used Trump fundraiser, photo in $27M investment scam

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  • Two New York residents were charged in a federal criminal complaint with a $27 million investment fraud scheme that leveraged their attendance at a 2017 fundraiser with then-President Donald Trump, prosecutors said.
  • Prosecutors said that the two defendants, Sherry Xue Li and Lianbo Wang lured victims into investing in a fictitious project by claiming it had the support of prominent politicians, and that they promised their investors green cards, access to politicians and investment returns.
  • Li and Wang charged 12 foreign nationals $93,000 per person for admission to a June 2017 Trump fundraiser, and that they used that money to “unlawfully” make $600,000 in political contributions to the committee that hosted the event, according to a criminal complaint.

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Two New York residents were charged in a federal criminal complaint with a $27 million investment fraud scheme that leveraged their attendance at a 2017 fundraiser with then-President Donald Trump, prosecutors said Monday.

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Prosecutors said that the two defendants, Sherry Xue Li and Lianbo Wang lured victims into investing in a fictitious project by claiming it had the support of prominent politicians, and that they promised their investors green cards, access to politicians and investment returns.

Li and Wang charged 12 foreign nationals $93,000 per person for admission to a June 2017 Trump fundraiser, and that they used that money to “unlawfully” make $600,000 in political contributions to the committee that hosted the event, according to a criminal complaint.

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“Li, Wang and their foreign national guests attended the June 28, 2017 Fundraiser and took photographs with the then-President of the United States,” according to the US Attorney’s Office for the Eastern District of New York.

“Li and Wang later used a photograph of Li and the President taken at the fundraiser to solicit investment in the TEC Project.”

This is breaking news. Please check back for updates.

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Credit: www.cnbc.com /

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