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Fri Apr 19, 2019, 03:39 AM

Japanese Investment Company Executives Extradited on Charges Relating to $1.5 Billion Ponzi Scheme

Japanese authorities have extradited to the United States two former executives of a Las Vegas, Nevada, investment company in connection with their alleged roles in a $1.5 billion Ponzi scheme.

Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division, U.S. Attorney Nicholas A. Trutanich of the District of Nevada and Special Agent in Charge Aaron C. Rouse of the FBI’s Las Vegas Division made the announcement.

Junzo Suzuki, 70, and Paul Suzuki, 40, who are father and son and are both Japanese nationals, were each charged in a July 2015 indictment filed in the District of Nevada with eight counts of mail fraud and nine counts of wire fraud. Japanese authorities arrested the Suzukis in January 2019 at the request of the United States, and extradited them to the United States on April 17. The Suzukis will make their initial appearance this afternoon before U.S. Magistrate Judge Cam Ferenbach of the District of Nevada.

According to the indictment, Junzo Suzuki previously was executive vice president for Asia Pacific of MRI International (MRI), an investment company which was headquartered in Las Vegas and had an office in Japan. Paul Suzuki previously was the company’s general manager for Japan operations, based in Tokyo. MRI purportedly specialized in “factoring,” whereby the company purchased accounts receivable from medical providers at a discount, and then attempted to recover the entire amount, or at least more than the discounted amount, from the debtor.

Read more: https://www.justice.gov/opa/pr/japanese-investment-company-executives-extradited-charges-relating-15-billion-ponzi-scheme

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