United States Of America vs Stephen Young Kang

Views: 2114

PlaintiffsDefendants

United States Of America

vs.

Stephen Young Kang

Stephen Young Kang

Filing Date:August 11, 2015

Case:United States Of America Vs. Stephen Young Kang

Jurisdiction:California State Court

Status:Resolved

Civil / Criminal:Criminal

Cause(s) of Action:

Fraud

Description:

Over at least the past four years, federal investigators say Stephen Young Kang took millions of dollars from Korean clients who asked him to invest their money and instead used it for his own expenses or paid other victims in a Ponzi-like scam stretching from Orange County, Calif., to Houston. This week a California federal grand jury indicted Kang, who lives in Newport Beach but has a law office in the Galleria. The 46-year-old is charged with 20 counts of wire fraud and five counts of money laundering, though investigators say evidence suggests more victims exist in Texas, California and South Korea and urged them to come forward. The complicated case centers on a financial dispute between Kang and Ottogi America, a California distributor of Korean food products. The company hired the lawyer in 2012 after it was accused of fixing ramen noodle prices in Korea, according to Los Angeles state court documents. It sued him last year on allegations of fraud and malpractice. In response, Kang charged executives of hiring him to conceal assets from its shareholders, including diverting funds from real estate to oil and gas ventures. The civil suit is ongoing.

Files
Aug
11
2015

Kang Complaint

Kang Complaint

Kang_-_INDICTMENT.pdf
Nov
08
2015

Kang Complaint Redacted

Kang_Complaint_Redacted.pdf
Attorneys, Regional Centers and Firms
Eillen M. DeckerStephen  Young Kang

Securities Disclaimer

This website is for informational purposes only and does not constitute an offer or solicitation to sell shares or securities. Any such offer or solicitation will be made only by means of an investment's confidential Offering Memorandum and in accordance with the terms of all applicable securities and other laws. This website does not constitute or form part of, and should not be construed as, any offer for sale or subscription of, or any invitation to offer to buy or subscribe for, any securities, nor should it or any part of it form the basis of, or be relied on in any connection with, any contract or commitment whatsoever. EB5Projects.com LLC and its affiliates expressly disclaim any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from: (i) reliance on any information contained in the website, (ii) any error, omission or inaccuracy in any such information or (iii) any action resulting therefrom.