Inner City Press





In Other Media-eg New Statesman, AJE, FP, Georgia, NYTAzerbaijan, CSM Click here to contact us     .



These reports are usually available through Google News and on Lexis-Nexis
,



Share |   

Follow on TWITTER

Home -

These reports are usually available through Google News and on Lexis-Nexis

CONTRIBUTE

(FP Twitterati 100, 2013)

ICP on YouTube

More: InnerCityPro

BloggingHeads.tv
Sept 24, 2013

UN: Sri Lanka

VoA: NYCLU

FOIA Finds  

Google, Asked at UN About Censorship, Moved to Censor the Questioner, Sources Say, Blaming UN - Update - Editorial

Support this work by buying this book

Click on cover for secure site orders

also includes "Toxic Credit in the Global Inner City"
 

 

 


Community
Reinvestment

Bank Beat

Freedom of Information
 

How to Contact Us



Ponzi Schemer David Hu Pled Guilty and Agreed to Pay $129M Now 12 Year Sentence

By Matthew Russell Lee, Patreon
BBC - Guardian UK - Honduras - ESPN

SDNY COURTHOUSE, April 11 – David Hu was charged with conspiracy to commit investment adviser fraud, securities fraud and wire fraud in connection with the Venezuela Recovery Fund.   

 On January 28, 2021 U.S. District Court for the Southern District of New York Judge Alvin K. Heller held a change of plea proceeding. Inner City Press covered it.  

Hu agreed to forfeit some $129 million.

His sentencing was be pushed back to June, or maybe long if his lawyer has his way.

It was longer. It was in April 2022 that 12 years were imposed: "DAVID HU, former managing partner and chief investment officer of the Manhattan-based investment advisory firm International Investment Group (“IIG”), was sentenced today to 12 years in prison for his role in an over $120 million scheme to defraud IIG’s clients and investors.  HU pled guilty in January 2021 to investment adviser fraud, securities fraud, and wire fraud offenses.  U.S. District Judge Alvin K. Hellerstein announced today’s sentence, which will be formally imposed following the conclusion of forfeiture and restitution proceedings in the case." 

The case is US v. Hu, 20-cr-360 (Hellerstein)

***

Your support means a lot. As little as $5 a month helps keep us going and grants you access to exclusive bonus material on our Patreon page. Click here to become a patron.

sdny

Feedback: Editorial [at] innercitypress.com
SDNY Press Room 480, front cubicle
500 Pearl Street, NY NY 10007 USA

Mail: Box 20047, Dag Hammarskjold Station NY NY 10017

Reporter's mobile (and weekends): 718-716-3540



Other, earlier Inner City Press are listed here, and some are available in the ProQuest service, and now on Lexis-Nexis.

 Copyright 2006-2021 Inner City Press, Inc. To request reprint or other permission, e-contact Editorial [at] innercitypress.com