Thanh Viet "Jeremy" Cao, of Orange County, was sentenced to 30
years in prison on May 16th after convictions of mail and wire fraud.
It is said to be one of the most severe punishments ever given for San
Diego financial crime. Almost 200 people were taken in by the alleged
scheme, supposedly netting Cao $12.4 million.
Cao allegedly ran a series of
Ponzi schemes over a period of six years. He brought clients in with promises of high-yield
investments such as real estate, mortgages, and international transactions.
Some of these victims were reeled in through San Diego investment seminar
scams. Much of the money came out of clients’ retirement and college
savings, leaving many of the victims in complete financial ruin. When
the victims asked for more information about their money, Cao is said
to have often become threatening.
Beyond the investment scam charges, Cao also has a history of convictions
in Orange County for threatening to murder a former business associate
and his family. Cao also began filing false liens against investigators,
judges, and prosecutors when his businesses came under scrutiny in 2007.
Judge Larry A. Burns states that the severe sentence in this case came
after considering Cao's conduct, which showed a "pattern of belligerence
Theinvestment fraud attorneys with David P. Meyer & Associates represent investment fraud victims
stockbroker mediation, arbitration, and litigation claims.