January 30, 2015
Edwin Yoshihiro Fujinaga, MRI International, Inc.
SANCTION AMOUNT: $584,359,364
Defendants: MRI International, Inc.
Edwin Yoshihiro Fujinaga
Sanction for massive Ponzi scheme in which defendants raised money from thousands of investors living primarily in Japan under the ruse that their funds were being used to buy accounts receivable from medical providers at a discount, with subsequently collection of the full value of those receivables from insurance companies. Instead, the money was used for other purposes, including financing the individual defendant's extravagant lifestyle.
- Key Docs
- Official SEC press release