Montecito Fine Arts College of Design, which had campuses in Monrovia, Arcadia, and Brea, has shut down, leaving 1200 students stranded and employees owed thousands in unpaid wages.
Montecito Fine Arts College of Design has declared bankruptcy but intends to reopen. The college has campuses in Monrovia, Arcadia, and Brea. The school's founder is Ed Kuckelhorn and the Vice President is his wife, Trisha Zhang.
Arcadia firm GemCoin proves it owns amber mines in Caribbean, backing E-currency (cryptocurrency), despite earlier claims those mines did not exist. Still, there is no evidence GemCoin's digital currency had any revenue backing it beyond the funds generated from investors, according to court-appointed company tasked with going through U.S. Fine Investment Art Inc.'s books. Investigators found 300 acres of land in Dominican Republic, with a working mine, purchased for $373,000 in the name of CEO Steve Chen's brother Yan Chen.
Landmarks are slowly disappearing along Route 66. Preservationists have kept some relics such as the historic windmill atop Denny's restaurant which dates back to its days as a Van de Kamp's coffee shop from the wrecking ball.
Arcadia-based company US Fine Investment Arts, Inc. is under investigation by state and federal agencies as it faces allegations from investors that it swindled them out of hundreds of thousands of dollars. The company has connections to Arcadia Councilman John Wuo.
Bradbury man Steve Chen, CEO of U.S. Fine Investment Arts, Inc. Gem Coin, and other companies, allegedly conspired to commit fraud with his Arcadia-based marketing company, to plead guilty. He promised potential investors gemstones from their mines along with valuable digital currency. See also Arcadia Weekly, p. 4, February 27, 2020.
"Mother Road"-clear road ahead to make Route 66 a historic trail. A bill that passed the House of Representatives by unanimous vote June 5, could make Route 66 a National Historic Trail, meaning the 2400 mile road that passes through 8 states, could get federal dollars for preservation, promotion and rehabilitation. Part of the road runs through Arcadia.
Two men were arrested on Camino Grove Avenue and 6th Avenue in Arcadia. They were Thomas Zion, 24, of Arcadia, and Juan Manuel Rodriguezzendejas, 31, of Altadena. Zion allegedly hit Rodriguezzendejas with an ax handle as Rodriguezzendejas was wielding a screwdriver.
Edmund Wu of Arcadia, founder of AMAC Violin Center, donated two chinese-made violins and a viola to the University of Fine Arts in Phnom Penh, Cambodia.
Some residents call for Arcadia City Councilman John Wuo's resignation amid allegations that he used his position to influence local Chinese Americans to invest hundreds of thousands of dollars into a company called US Fine Investment Arts, Inc., which sells GemCoin, a digital currency, that some investors allege is fraudulent.
Some residents call for Arcadia City Councilman John Wuo's resignation amid allegations that he used his position to influence local Chinese Americans to invest hundreds of thousands of dollars into a company called US Fine Investment Arts, Inc., which sells GemCoin, a digital currency, that some investors allege is fraudulent.
An exhibit at the Ruth and Charles Gilb Arcadia Historical Museum spotlights Route 66. It features photographs of motels, restaurants, and some ephemera. It runs until March 28, 2009.
Arcadia firm US Fine Investment Arts (USFIA) is charged in fraud. Securities and Exchange Commission (SEC) alleges operator used GemCoin in a worldwide pyramid scheme, allegedly bilking investors out of $32 million.
Feds seize assets of US Fine Investment Arts (USFIA), a company that sells GemCoin, a digital currency that is purportedly backed by amber and other precious gems. Arcadia City Councilman John Wuo has denied any connection to the company. Securities and Exchange Commission served a temporary restraining order against USFIA and CEO Steven Chen. USFIA is under scrutiny for allegedly defrauding investors.
A recent report filed in federal court says Gemcoin's scam collected $164 million. Initially, investigators linked Gemcoin to $32 million in fraudulent investment. Steven Chen, his company U.S. Fine Investment Arts Inc., and Gemcoin (digital currency backed by precious gem reserves and amber mines) are accused of a "worldwide pyramid scheme."
Rod's Grill, Arcadia's beloved classic diner, announces its closure after nearly 70 years. Closing date will be Sunday, February 12, 2023. It is located at 41 West Huntington Drive, along Historic Route 66. The diner began as a small chain of restaurants in 1946, with the Arcadia location opening in 1957.