Arcadia woman Ruixue "Serena" Shi, 37, pleaded guilty to soliciting $22.8 million in funds for a condominium and hotel project scheme. The crime is one federal count of wire fraud, which has a sentence of up to 20 years in prison. See also Arcadia Weekly, p. 3, 7, October 28, 2021.
Arcadia Gem Coin mastermind Steve Chen sentenced to 10 years in prison. One of Arcadia’s largest
financial scandals in 2015 involved cryptocurrency and a host of well-known public officials,
including a former Arcadia mayor, for involvement in a Ponzi scheme that ultimately shut down the
operations of the Arcadia business known as U.S. Fine Investment Arts, Inc. (USFIA).
Arcadia native Eileen Chen, a UCSB student, hosts global day of letter writing to senior citizens isolated by COVID-19. See also Pasadena Star News, p. A3, A4, February 16, 2021.
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.
Woman gets 20 years in prison for bilking investors. Ruixue "Serena" Shi, 38, of Arcadia, bilked investors in a Southern California hotel and condominium project of at least $26 million. See also Arcadia Weekly, p. 8, 14, November 24, 2022.
Arcadia resident, Ruixue "Serena" Shi, gets 20-year sentence for Coachella Valley fraud involving $22.8 million in funds for a condominium and hotel complex called Hyde Resorts and Residences Coachella Valley. Shi was president and owner of Global House Buyer (GHB), a China-based real estate development company, and also was CEO of the Beverly Hills-based company Hyde Morgan Development, LLC. Chinese investors in the Hyde project were falsely promised visas through the EB-5 Immigrant Investor Program.
El Monte man gets 21 years for killing boss at newspaper's office. Zhong Qi Chen, 64, of El Monte, was sentenced. He pleaded guilty in March to the voluntary manslaughter of Yining Xie, of Arcadia, at The China Press in Alhambra at 2121 W. Mission Road, Alhambra, CA.
El Monte man pleads guilty to killing boss in office. Zhong Qi Chen, 63, pleaded guilty to fatally shooting his boss Yining Xie, 58, of Arcadia, at a newspaper office in Alhambra in 2018, at The China Press, 2121 W. Mission Road, Alhambra, CA.
Former Arcadia man accused of lying, losing millions of investors' money. James Arthur McDonald, Jr. former CEO and Chief Investment Officer of Hercules Investments LLC and Index Strategy Advisors Inc. was charged with one count of securities fraud. Prosecutors claim McDonald lost clients of his Los Angeles-based firm Hercules millions of dollars in late 2020. He had been renting a home in Arcadia.
New app Sound Mind provides music and visual therapy with a focus on meditation and mental health. A veteran Brian Femminella and an Arcadia resident Travis Chen created the app.
Food company executives Feng Wu Lam, who owns South El Monte based Golden Food, Inc. and her husband Wei Wen Wu, the company's manager, face insurance fraud, wage theft charges. They are accused of underreporting their payroll to workers' compensation insurance carriers by about $4.5 million between 2015 and 2019. They are both Arcadia residents.
Ruixue "Serena" Shi, 36, of Arcadia, was arrested for allegedly swindling more than $20 million that was solicited for funding a condominium and hotel complex called Hyde Resorts and Residences in Coachella Valley. Shi was president and owner of Global House Buyer (GHB), a China-based real estate development company, and also was CEO of the Beverly Hills-based company Hyde Morgan Development, LLC.
Arcadia firefighters raise funds to help fight pediatric cancer. Arcadia firefighters have been involved with Saint Baldrick's Foundation for over 15 years, said Arcadia Fire Chief Chen Suen. Arcadia firefighters are shown in photo.
Former TV finance analyst from Arcadia James Arthur McDonalds, Jr. charged with lying to investors about the health of his finance firm and failing to disclose massive losses incurred through risky investments following the onset of the COVID-19 pandemic. McDonald was CEO of Los Angeles-based Hercules Investments and Redondo Beach-based Index Strategy Advisors Inc. He is believed to be in hiding.
Worker rescued after falling 22 feet into underground vault (hole). Firefighters rescued him at Santa Anita Park in Arcadia on Thursday. The man suffered moderate injuries and was taken to Huntington Hospital in Pasadena according to Chen Suen, Deputy Fire Chief for Arcadia Fire Department.
Return engagements for marching bands. All but one band scheduled for the 2021 Pasadena Tournament of Roses Parade, which was canceled, has agreed to perform in 2022. The Arcadia Apache Marching Band and Color Guard will march in January 2022.
Arcadia-Monrovia VFW Post 2070 celebrates 90 years of community service. On Saturday, October 2, Veterans of Foreign Wars (VFW) Post 2070 Arcadia-Monrovia commemorates nine decades of offering support and services for all veterans especially those in Monrovia, Arcadia and Duarte.