Classic Ponzi

OGDEN, Utah – Japanese and U.S. citizens claim in a lawsuit¬†filed in Utah’s Weber County court that they were the victims of a $50 million classic Ponzi scheme perpetrated by people claiming to be investment advisers.

Plaintiff in the case is the RBT Victim Recovery Trust. Defendants include Ronald Talmage, Annette Talmage, Liu Hsiu Chen; New Century Properties, Rivercliff Farm, Heng Chong Pacific, World-Wide Investments, and WWIS Ltd.