Bayside woman ordered to repay $2.5M in nationwide romance investment scam
Queens, NY — A Bayside woman who operated a nationwide online investment scam that drained millions from victims has been sentenced to jail after authorities recovered $2.5 million tied to the scheme.
Tiffany Yang, 37, pleaded guilty to grand larceny and was sentenced to 120 days in jail after paying full restitution connected to what prosecutors described as a “pig butchering” scam that targeted 13 victims across the country.
According to the Queens District Attorney’s Office, the scheme involved building relationships with victims online before directing them to fraudulent investment platforms that displayed fake profits. Victims were encouraged to deposit increasing amounts of money, only to later lose access to their accounts as the funds were funneled through shell companies.
Prosecutors said Yang paid $1,328,286.67 in restitution and forfeited an additional $1,171,710.33 held in escrow, totaling $2.5 million returned to victims. Luxury items seized during the investigation, including handbags and watches, are expected to be auctioned, with proceeds also going to victims.
Investigators traced fraudulent transactions to multiple bank accounts linked to a Flushing apartment owned by Yang. Records showed dozens of accounts tied to the address, many posing as legitimate businesses. Authorities also identified nearly 100 bank customers connected to the location, with multiple transactions flagged as fraudulent.
The investigation revealed that victims were often contacted on social media before being moved to encrypted messaging platforms, where they were introduced to fake trading opportunities designed to mimic legitimate financial services.
Yang was initially arrested after a search warrant was executed at her residence, where investigators recovered financial documents, identification materials, and other items linked to fraudulent activity. She was later charged in connection with the broader scheme.
Officials said all identified victims have now received restitution.
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Key Points
- Bayside woman sentenced to 120 days in jail in $2.5M scam case
- 13 victims targeted through online investment fraud scheme
- Full restitution secured through cash seizures and forfeitures
