Two Japanese Businessmen Extradited To US Over $1.5 Billion Scheme - Justice Department

Two Japanese Businessmen Extradited to US Over $1.5 Billion Scheme - Justice Department

WASHINGTON (UrduPoint News / Sputnik - 19th April, 2019) Two Japanese businessmen have been extradited to the United States over their roles in a $1.5-billion Ponzi scheme, the US Department of Justice said in a statement.

"Japanese authorities have extradited to the United States two former executives of a Las Vegas, Nevada, investment company in connection with their alleged roles in a $1.5 billion Ponzi scheme," the statement said on Thursday.

The Justice Department noted that father and son Junzo and Paul Suzuki were charged in the US state of Nevada in 2015. Both of them face eight counts of mail fraud and nine counts of wire fraud,

"Japanese authorities arrested the Suzukis in January 2019 at the request of the United States, and extradited them to the United States on April 17," the statement said.

Both men are expected to appear in US court later on Thursday.

The Suzukis were executives in MRI International (MRI), an investment company which was headquartered in Las Vegas and had an office in Japan, and fraudulently solicited investments from thousands of Japanese residents.

The Justice Department said the MRI operated as a Ponzi scheme and when it collapsed, the company's debt to investors allegedly exceeded $1.5 billion.