{"id":47289,"date":"2026-07-07T18:05:50","date_gmt":"2026-07-07T18:05:50","guid":{"rendered":"https:\/\/cryptomag.finance\/?p=47289"},"modified":"2026-07-07T18:05:50","modified_gmt":"2026-07-07T18:05:50","slug":"woman-admits-to-stealing-over-3000000-in-washington-state-bank-fraud-scheme","status":"publish","type":"post","link":"https:\/\/cryptomag.finance\/?p=47289","title":{"rendered":"Woman Admits To Stealing Over $3,000,000 in Washington State Bank Fraud Scheme"},"content":{"rendered":"

\"\"<\/p>\n

A woman in Washington State has pleaded guilty to charges of wire fraud and bank fraud in a scheme that defrauded victims of millions.<\/p>\n

The case involves a fake investment advisor who targeted the Korean community including many elderly people, says<\/a> the U.S. Department of Justice (DOJ).<\/p>\n

Jenni Yoon Jeong Lee, 53, of Federal Way defrauded at least 28 people of over $3 million by posing as an investment advisor and promising safe returns up to 10 percent with no risk.<\/p>\n

She admitted to three counts of wire fraud and two counts of bank fraud in U.S. District Court in Seattle.<\/p>\n

Lee created shell companies, opened bank accounts in their names and used victim funds for personal expenses and her gambling addiction.<\/p>\n

Says the DOJ,<\/p>\n

\u201cLee got the victims to write checks to one of the shell companies for \u2018investment,\u2019 or she induced the client to fund a self-directed IRA at a legitimate financial services company and to then give Lee access to manage the account. Lee would sometimes provide the financial services company with a promissory note to make it appear the client was loaning money to one of Lee\u2019s shell companies. In this way she gained control of the investor funds.\u201d<\/em><\/p>\n

She spent at least $900,000 at casinos and some money was repaid in a Ponzi-like manner resulting in actual losses above $1.5 million.<\/p>\n

She faces up to 30 years in prison. Sentencing is scheduled for September 18th.<\/p>\n

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The post Woman Admits To Stealing Over $3,000,000 in Washington State Bank Fraud Scheme<\/a> appeared first on The Daily Hodl<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

A woman in Washington State has pleaded guilty to charges of wire fraud and bank fraud in a scheme that defrauded victims of millions. The case involves a fake investment advisor who targeted the Korean community including many elderly people, says the U.S. Department of Justice (DOJ). Jenni Yoon Jeong Lee, 53, of Federal Way […]<\/p>\n","protected":false},"author":1,"featured_media":47290,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[],"tags":[],"class_list":["post-47289","post","type-post","status-publish","format-standard","has-post-thumbnail"],"yoast_head":"\nWoman Admits To Stealing Over $3,000,000 in Washington State Bank Fraud Scheme - Cryptomag<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptomag.finance\/?p=47289\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Woman Admits To Stealing Over $3,000,000 in Washington State Bank Fraud Scheme - Cryptomag\" \/>\n<meta property=\"og:description\" content=\"A woman in Washington State has pleaded guilty to charges of wire fraud and bank fraud in a scheme that defrauded victims of millions. 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