Sunday, June 4, 2023 | Back issues
Courthouse News Service Courthouse News Service

SEC Busts Alleged $45 Million Scam

SAN JOSE, CALIF.(CN) - Terchi Liao aka Nelson Liao and his companies, AOB Commerce and AOB Asia Fund I LLC defrauded investors of more than $45 million in unregistered offerings of promissory notes in a Ponzi scheme, fraudulently promising to pay guaranteed rates of return, the SEC claims in Federal Court. Defendants include AOB Management, AOB Media, AOB Transportation, and AOB Vacations. See complaint.

Read the Top 8

Sign up for the Top 8, a roundup of the day's top stories delivered directly to your inbox Monday through Friday.

Loading...