Jack Hu and Mother Kuei Fuang Tsuei Hu Accused of Investment Scam Involving Bush, Clinton and Gore
|That's Hu on the right.|
Fast forward 11 months, and Hu and his 62-year-old mother, both of Irvine, are accused in a federal grand jury indictment of being fraudsters touting phony political connections.
Hu, whose Facebook page cites Ronald Reagan and both Bush presidents as his heroes, told mostly Chinese immigrant investors in his company that their funds wound be used to sponsor China trips by Dubya and Bill Clinton and a goodwill visit to Taiwan by Al Gore, the indictment charges.
|Courtesy of FBI|
|Courtesy of the FBI|
|Kuei Fuang Tsuei Hu|
Arrested in October, the mother and son are each charged with three counts of wire fraud. Jack Hu faces an additional count of misusing of the Great Seal of the United States. Both are being held without bond. Conviction on the wire fraud counts bring maximum sentences of 60 years in federal prison.
Meanwhile, Steven Martinez, assistant director in charge of the FBI in Los Angeles, and André Birotte Jr., the U.S. Attorney in LA, announced more possible victims of the pair are being sought. Anyone who thinks they were duped is asked to call the FBI's Santa Ana office at 714.542.8825.
For that London International Group summit, Hu said he would be moderating panels with Fox News business and financial journalist Stuart Varney. It'll be interesting to see how Varney covers this story on the cable news channel.