SEC Charges California Resident With Multimillion Dollar Ponzi Scheme Targeting Tongan American Community
September 20, 2023
September 20, 2023
WASHINGTON, Sept. 20 -- The Securities and Exchange Commission issued the following news release on Sept. 19, 2023:
The Securities and Exchange Commission today charged Richmond, California resident Tilila Walker Sumchai with raising approximately $11.8 million from more than 1,000 investors through a fraudulent securities offering targeting members of the Tongan American community across the United States.
According to the SEC's complaint, from approximately Janua . . .
The Securities and Exchange Commission today charged Richmond, California resident Tilila Walker Sumchai with raising approximately $11.8 million from more than 1,000 investors through a fraudulent securities offering targeting members of the Tongan American community across the United States.
According to the SEC's complaint, from approximately Janua . . .