A Van Nuys couple has been arrested and charged with grand theft in connection with a $1.9 million investment fraud scheme that allegedly preyed on members of the Vietnamese community in Los Angeles, according to state and local officials.
Kim Nguyen and Phuc Huynh face 12 counts of grand theft following an investigation by the Los Angeles Police Department and the California Department of Justice. The couple is accused of soliciting funds from at least 12 investors between 2019 and 2023, offering fake loan and investment opportunities with promised interest payments and notarized agreements.
“Exploitation of immigrant communities for financial gain — also known as Affinity Fraud — will not be tolerated in California,” Attorney General Rob Bonta said in a statement. “We will continue to aggressively combat financial crimes and all criminal conduct, and work to bring perpetrators to justice.”…