Chief of Staff of Exiled Chinese Billionaire Pleads Guilty to Billion Dollar Global Fraud Scheme in NYC

by
May 4, 2024

NEW YORK, NY – Yvette Wang, 45, from New York, has pled guilty to significant fraud charges involving a scheme that defrauded victims globally out of more than $1 billion, according to U.S. Attorney Damian Williams. Wang admitted to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering, facing a maximum sentence of 10 years in prison.

As part of her plea, Wang has agreed to pay and forfeit $1.4 billion to the United States. The restitution is aimed at compensating the thousands of individuals worldwide who suffered financial losses due to the scheme, which was characterized by deceitful tactics and false promises.

U.S. District Judge Analisa Torres is set to sentence Wang on September 10, 2024, at 11:00 a.m.

Phil Stilton

Phil Stilton

Phil Stilton is the Editor and Publisher of Shore News Network, an independent digital news organization covering New Jersey, national politics, public policy, public safety, and community affairs. With years of experience reporting on local government, elections, law enforcement, and issues impacting residents throughout New Jersey, Stilton has built a reputation for delivering timely news, in-depth reporting, and accountability journalism.

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