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Scott K Yoshizumi

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BUSINESS
April 26, 2001 | BONNIE HARRIS, TIMES STAFF WRITER
A twice-convicted Fullerton man was arrested Wednesday on suspicion of bilking at least 130 investors out of more than $15 million in a yearlong Ponzi scheme that promised huge returns for trading in offshore letters of credit. Scott K. Yoshizumi, 39, faces 24 criminal counts of fraud and money laundering in a federal grand jury indictment that was returned Tuesday. He was ordered held without bail Wednesday as a flight risk and an "economic danger," Assistant U.S. Atty. Michael Wilner said.
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BUSINESS
April 26, 2001 | BONNIE HARRIS, TIMES STAFF WRITER
A twice-convicted Fullerton man was arrested Wednesday on suspicion of bilking at least 130 investors out of more than $15 million in a yearlong Ponzi scheme that promised huge returns for trading in offshore letters of credit. Scott K. Yoshizumi, 39, faces 24 criminal counts of fraud and money laundering in a federal grand jury indictment that was returned Tuesday. He was ordered held without bail Wednesday as a flight risk and an "economic danger," Assistant U.S. Atty. Michael Wilner said.
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BUSINESS
October 12, 2001 | A Times Staff Writer
A Fullerton man has admitted operating a bogus investment scheme that bilked 130 investors out of $17 million, the U.S. attorney's office said. Scott K. Yoshizumi, 40, pleaded guilty Wednesday to fraud and money laundering. He is scheduled to be sentenced Jan. 7 by U.S. District Judge Audrey B. Collins. Yoshizumi, who had two previous fraud convictions, faces a maximum sentence of 50 years, although prosecutors agreed to recommend a sentence of eight years.
BUSINESS
November 7, 2001 | E. Scott Reckard
A Fullerton man awaiting sentencing for fraud has been ordered to repay $16 million to 130 investors, but his assets are expected to cover only 20% to 30% of the losses, authorities said Tuesday. Scott K. Yoshizumi, whose Cerritos-based Concord Capital Inc. promised returns of 2% to 4% a month, didn't contest a civil fraud lawsuit filed by the Securities and Exchange Commission.
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