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East Ocean International Inc

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CALIFORNIA | LOCAL
April 30, 1992 | IRENE CHANG, TIMES STAFF WRITER
Chinese immigrants who allegedly were bilked out of their life savings in an illegal Pasadena commodities pool said Wednesday they were skeptical when David Tsao, the operator of the pool, promised them instant cash. But the investors, many of whom had come to the San Gabriel Valley from China in the last few years, believed that taking a risk in order to make big bucks was a part of the American dream. About 100 of them pumped $1.7 million into Tsao's East Ocean International Inc.
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CALIFORNIA | LOCAL
April 30, 1992 | IRENE CHANG, TIMES STAFF WRITER
Chinese immigrants who allegedly were bilked out of their life savings in an illegal Pasadena commodities pool said Wednesday they were skeptical when David Tsao, the operator of the pool, promised them instant cash. But the investors, many of whom had come to the San Gabriel Valley from China in the last few years, believed that taking a risk in order to make big bucks was a part of the American dream. About 100 of them pumped $1.7 million into Tsao's East Ocean International Inc.
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NEWS
March 10, 1994 | ANDREW LePAGE, SPECIAL TO THE TIMES
Investigators are poring through the records of a San Gabriel commodities brokerage that they raided and shut down last week to see whether the business actually invested the millions of dollars it collected from customers. The business had targeted the Chinese American community.
NEWS
February 21, 1993 | RENEE TAWA, TIMES STAFF WRITER
Chinese investors in San Gabriel Valley have lost so much money recently in questionable schemes that a Monterey Park councilman is working on an ordinance to regulate new investment companies. Just within the past month, investigators have targeted two Chinese-owned investment brokerages that allegedly conned members of their own communities into losing millions of dollars in a practice known as "affinity fraud."
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