The U.S. Attorney’s Office, Northern District of Illinois, seized $214 million in an ongoing case alleging that seven people defrauded investors by manipulating shares of China Liberal Education Holdings, Ltd. (CLEU), which can now be returned to victims.
“Our attorneys and staff in this case placed a high priority on recovering funds for victims,” U.S. Attorney for the Northern District of Illinois Andrew Boutros said on May 28.
A grand jury handed up an indictment in March, alleging the seven individuals residing in Taiwan and Malaysia had defrauded American investors. The funds were in U.S. custody, and a judge’s order on May 27 allows the permanent forfeiture of the $214 million from defendants and for the government to return funds to the victims….
DOJ Seizes $214 Million From Alleged Chinese Stock Scheme
