Father, son arrested in Japan get US prison for Ponzi scheme

[Princess Turandot]

5. Back in 2019, the owner of the company (Edwin Fujinaga) was sentenced to 50 years in federal prison

For those concerned about the money impact, a gross judgment of ~$600 million had already been levied against various involved individuals a few years earlier, although they were able to find and seize only the $141 million referenced above. The criminal cases took longer.

The company (which operated between 2008 and 2013) sold investment certificates primarily to people in Japan. They believed they were investing in a medical billing company that purchased receivables from medical providers at a discount, and then collected those receivables at a higher percentage from the insurance companies, because MRI was 'very skilled at this type of negotiation/work'. The investments were to be used to buy new receivables. This was to bring the investors at least a 6% return. In reality, the principals used the new investments to payout $$ to previous investors and buy themselves nice things. (The scheme bears some resemblance to the Tower Financial mega-swindle.)

The fellas referenced above were the marketers in Japan, but the company was incorporated in Nevada. Between the distance, the language difference, and their preferred 'customers' being retirees living on a pension, they must've thought that they were pretty slick. The Suzukis even tried the 'this happened in the US, but we were far away in Japan' to 'defend' themselves.