Two individuals with ties to a financial services company in Bellflower, California, have been formally accused of concocting a cryptocurrency fraud that allegedly bilked more than $1 million from about 30 victims, targeting the economically vulnerable and those with limited English proficiency. Los Angeles County District Attorney Nathan J. Hochman declared a zero-tolerance stance against such financial deception. "My office will not tolerate financial predators who purport to offer legitimate services, but instead offer lies and devastating financial loss," Hochman was quoted in a statement released by the DA's Office.
The operators in question, Yone Lopez Rios and Erwing Diaz Cuevas, are facing a cascade of grand theft charges as well as additional counts related to forgery and passing non-sufficient funds checks. It's alleged that between September 2020 and December 2022, they orchestrated a fictitious investment operation under the moniker Zukre Platform Corporation. The accusations laid against them detail how they enticed victims within the Spanish-speaking community using the infrastructure of Fuego Tax, which also operated as Supremo Tax, to ensnare unsuspecting clients under the pretense of cryptocurrency mining ventures.
According to the Los Angeles County District Attorney’s Office, the defendants allegedly promised their victims risk-free investments and used a bogus mobile application to display fabricated returns. These investments ranged from approximately $4,500 to a staggering $280,000. Despite the provided contracts and assurances, the unfortunate victims saw no returns and struggled to reclaim their initial investments.
The investigation into these nefarious activities was a collaborative effort involving the California Department of Financial Protection and Innovation, the Los Angeles County Sheriff’s Department – Lakewood Station, and the District Attorney’s Office Bureau of Investigation. Deputy District Attorney William Park of the Economic Justice and Notario Fraud Unit is spearheading the prosecution. Individuals who suspect they might be victims of the scheme have been urged to contact the LADA’s Economic and Labor Justice Unit’s hotline. The suspects involved are currently presumed innocent until proven guilty.
