crime

Father, son arrested in Japan get U.S. prison time for Ponzi scheme

20 Comments
By KEN RITTER

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20 Comments
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Wow. In these ponzi schemes, I cannot understand the end game.

-4 ( +4 / -8 )

5 years... out in 3 for $1.5 Billion....

And they say crime doesn't pay!

16 ( +16 / -0 )

I cannot understand the end game.

Same as life, only one possible end.

1 ( +3 / -2 )

‘Apologies’ and special dispensation for the elder due to his advanced age is not enough.

Seize and liquidate all remaining assets with the exception of small single family dwelling and one car for he and his immediate family to share for the remainder of his days. (No palatial estates, vacation homes and other ill-gotten gains left to them to access.)

Anything else to be liquidated for cash a proportionally distributed amongst those defrauded.

“Paul Suzuki, 43, is a U.S. citizen, but has been in custody since the 2 men were arrested in Japan in Jan 2019 and allowed to live with family in Japan while he serves his three years of supervised release.

The other AmericanFujinaga, now 75, is serving a 50-year U.S. prison sentence.”

5 ( +8 / -3 )

He has multiple health issues and has been on pretrial release since April 2020 due to the potential exposure to COVID-19 behind bars. He is due to surrender for prison July 8.

Navarro said he can be allowed to live with family in Japan while he serves his three years of supervised release

The US court system is a softie on real Japanese-American financial criminals.

While Japan imprisons foreigners uncharged for ages as it tries to force confessions.

Vive la difference?

4 ( +7 / -3 )

The US and Japan have a solid extradition treaty. Wherever the crime is comitted, that's where they will face the charges.

2 ( +2 / -0 )

So, similar cases got 50, 150, 110, and 50 year sentences and these two got 5 years each.

The older one is ill, but the one in his 40's will probably live "with family in Japan" in a very wealthy lifestyle while his victims have lost many millions?

8 ( +8 / -0 )

five years in a U.S. prison for their roles in what federal authorities called a $1.5 billion international Ponzi scheme with 10,000 victims in the U.S. and abroad.

Seriously 5 years?

I would do such time for this amount of cash.

3 ( +5 / -2 )

Never understood why people are stupid enough to fall for these scams. Companies like Amway are just the same except legally speaking, MLM scams are not a scam.

-1 ( +1 / -2 )

A lot of information in this article seems not to fit.

They can be either Japanese or American citizens since Japan does not allow dual citizenship.

While it is not punishable per se to hold dual citizenship, you can be asked by the Ministry of Justice to renounce your other country's citizenship or you might be stripped off your Japanese citizenship in the most severe cases. Likewise, your supposed to renounce your Japanese citizenship in the case you take up another county's citizenship by submitting a 国籍喪失届け. Not doing so however carries no penalty.

If you apply for a J passport (or renew yours), you are being asked if you hold the citizenship of another country. Giving false information here is punishable by 5 years in prison or up to a 3M Yen fine. (see 旅券法第23条)

You won't be issued a new passport if you are also holding the citizenship of another countries.

Japan is one of less than 20 countries in the world that does not extradite its own citizens. The others are Austria, Brazil, Czech Republic, France, Germany, Morocco, Norway, PRC, Portugal, Taiwan, Russia, Saudi Arabia, Switzerland, Syria and Vietnam) (see 逃亡犯罪人引渡法2条 for Japan or look up the laws up the respective country)

4 ( +4 / -0 )

I wonder how many people/ defrauded investors not only lost a shed load of money, but now they are probably broke, and with medicle issuses them selfs, cant afford medical insurance or to pay for treatment.

2 ( +2 / -0 )

Japan does not allow dual citizenship

Ostensibly, no. But this is Asia, where loopholes are built into the system, and in reality there are tens of thousands with dual citizenship, so any conclusions you make based on the assumption that one could not possibly have dual citizenship would be conclusions based on faulty logic, and therefore useless conclusions.

While it is not punishable per se to hold dual citizenship, you can be asked by the Ministry of Justice to renounce your other country's citizenship or you might be stripped off your Japanese citizenship in the most severe cases.

No person born with Japanese citizenship has ever been stripped of their Japanese citizenship. Ans Japan is unable to force people to give up their foreign citizenship - some countries do not allow that, and many will not report to other countries whether one holds citizenship or not.

Likewise, your supposed to renounce your Japanese citizenship in the case you take up another county's citizenship by submitting a 国籍喪失届け.

You're supposed to, but in reality, many don't.

You won't be issued a new passport if you are also holding the citizenship of another countries.

And again, you're wrong. There are literally thousands of Japanese people holding multiple passports. I know a few personally.

You are making a very common mistake foreigners make in Asia - assuming the tatemae is how things work, and not understanding how Asia works with loopholes and backdoors.

0 ( +3 / -3 )

1 yr for each $1M stolen should be the base punishment. White collar crime shouldn't get off so easily.

Also, 120% restitution needs to be paid within a reasonable timeframe after release.

1 ( +1 / -0 )

@theFu - the punishment should be much harsher. The average working stiff earns something like $30k per year; give one year in jail for each $30k they stole.

1 ( +1 / -0 )

The US court system is a softie on real Japanese-American financial criminals.

WRONG:

Look at Edwin Fujinaga

0 ( +0 / -0 )

Please give the victims back their money.

-3 ( +0 / -3 )

Wow when he gets out he will be 125.

Don't commit crimes in Japan !

-4 ( +0 / -4 )

Strangerland

Your correct about the passport thing.

I know a Japanese man that has both Japanese and USA passport .

-3 ( +0 / -3 )

Given such a menial, pathetically short sentence, running these schemes must seem almost worthwhile doing. I mean, my dog, I would do 3/5 yrs in exchange for a few billion.

0 ( +0 / -0 )

The Japanese government doesn't like its citizens to have more than one passport and once in a while if they find you have an additional passport they might yell at you, but they cannot enforce. I know someone who was yelled at at airport immigration, he said "hai hai" then just moved on and forgot about it (until the next time)

-1 ( +0 / -1 )

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