{"id":9319,"date":"2020-09-08T17:32:56","date_gmt":"2020-09-08T21:32:56","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9319"},"modified":"2020-09-08T17:32:56","modified_gmt":"2020-09-08T21:32:56","slug":"sec-brings-charges-against-david-hu-founder-of-international-investment-group-llcc-for-allegedly-orchestrating-60-million-ponzi-scheme","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-brings-charges-against-david-hu-founder-of-international-investment-group-llcc-for-allegedly-orchestrating-60-million-ponzi-scheme\/","title":{"rendered":"SEC Brings Charges Against David Hu, Founder Of International Investment Group, LLCC, For Allegedly Orchestrating $60 Million Ponzi Scheme"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9320 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/David-Hu.jpg\" alt=\"On July 17, 2020, the Securities and Exchange Commission (SEC), brought fraud charges against David Hu, the co-founder and chief investment officer of International Investment Group (IIG), in Manhattan federal district court. A link to the charges can be found here.  The SEC is charging Hu with running multiple fraudulent schemes to misrepresent the performance and conceal losses in IIG\u2019s Trade Opportunities Fund (TOF). In addition, Hu is alleged to have sold over $60 million in phony trade finance loans to investors, using the proceeds to pay back other customers who made redemption requests for earlier investments.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/David-Hu.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/David-Hu-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>On July 17, 2020, the Securities and Exchange Commission (SEC), brought fraud charges against David Hu, the co-founder and chief investment officer of International Investment Group (IIG), in Manhattan federal district court. A link to the charges can be found <a href=\"https:\/\/www.sec.gov\/litigation\/complaints\/2020\/comp-pr2020-157.pdf\" target=\"_blank\">here<\/a>.<\/p>\n<p>The SEC is charging Hu with running multiple fraudulent schemes to misrepresent the performance and conceal losses in IIG\u2019s Trade Opportunities Fund (TOF). In addition, Hu is alleged to have sold over $60 million in phony trade finance loans to investors, using the proceeds to <a href=\"https:\/\/www.silverlaw.com\/ponzi-scheme.html\" target=\"_blank\">pay back other customers<\/a> who made redemption requests for earlier investments. <a href=\"https:\/\/www.silverlaw.com\/blog\/sec-brings-charges-against-david-hu-founder-of-international-investment-group-llcc-for-allegedly-orchestrating-60-million-ponzi-scheme\/#more-9319\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 17, 2020, the Securities and Exchange Commission (SEC), brought fraud charges against David Hu, the co-founder and chief investment officer of International Investment Group (IIG), in Manhattan federal district court. A link to the charges can be found here. The SEC is charging Hu with running multiple fraudulent schemes to misrepresent the performance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[593,583],"tags":[],"class_list":["post-9319","post","type-post","status-publish","format-standard","hentry","category-ponzi-schemes","category-sec-actions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Brings Charges Against David Hu Of IIG For Alleged Ponzi-Scheme<\/title>\n<meta name=\"description\" content=\"The SEC brought fraud charges against David Hu, the co-founder of International Investment Group (IIG) for allegedly orchestrating $60M Ponzi-Scheme.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Ponzi-Scheme.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/David-Hu.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/sec-brings-charges-against-david-hu-founder-of-international-investment-group-llcc-for-allegedly-orchestrating-60-million-ponzi-scheme\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-brings-charges-against-david-hu-founder-of-international-investment-group-llcc-for-allegedly-orchestrating-60-million-ponzi-scheme\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"SEC Brings Charges Against David Hu, Founder Of International Investment Group, LLCC, For Allegedly Orchestrating $60 Million Ponzi 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