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.
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.
Arcadia Chinese Association Installs New Board of Directors.
The incoming Arcadia Chinese Association Officers and Board Members for 2020-2021 are as follows:
President: Connie Qun Liao
Co-President: Diana Chang
1st Vice President: Susan Guo
2nd Vice President: Mary Huang
. 3rd Vice President: Lily Lam
Treasurer: Alice Wang
Secretary (Interim): Mary Huang
Presidential Counsel: Edward Wong
Directors: Jamie Lee, Francine Chiu, Joanna Liang, Sherry Liang, Sherman Shi, Stella Gu, Winnie Li, Arnold Chien, Sage Zeng.
Los Angeles County Arboretum CEO Richard Schulhof, 65, to retire in late spring, after 14 years of leading the acclaimed horticultural site in Arcadia. New CEO expected this summer. See hard copy in VF.
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.
Bookstore fights to survive in middle of global pandemic. Karen Kropp, owner of The Book Rack in Arcadia, says she'll weather the pandemic storm for the love of reading. Kropp took over the business 17 years ago from original owner Pat Carlson, who started the business 35 years ago.
Chinese company's Arcadia subsidiary to pay more than $1 million in Los Angeles City Hall bribery case. Jia Yuan USA Co., Inc. part of China-based Shenzhen Hazens, is a developer that bribed LA City officials to secure official acts to benefit their real estate projects.
Le Meridien hotel by Marriott in Arcadia is taking shape. Photo. The site of the former Santa Anita Inn, now razed, is the site for an ambitious new $300 million hotel and mixed-use condominium project opposite the Santa Anita Park racetrack. Contruction has been swift, but delayed a bit this week due to the rain. Developer Chateau Group USA held a ceremonial groundbreaking for the project on June 27, 2018.
County Assessor reports solid growth for Arcadia in 2020 Assessment Roll. The Roll for 2020 has been closed and it reflects solid growth for Arcadia and the rest of the County. However, the Roll is pre-COVID. This comprehensive tally values more than 2.5 million real estate parcels in Los Angeles County and results in the very tax dollars that goes to pay for vital public services, such as healthcare, police, fire, schools, and even librarians, to name just a few. The County Assessor is constitutionally mandated to close the roll by the end of the Fiscal Year on June 30. The 2020 Assessment Roll has a total net value of $1.7 trillion, indicating the 10th year of consecutive growth. That value places $17 billion in the hands of the County to be used for those public services I just mentioned. This year the Roll has an added dynamic, the COVID-19 pandemic. Locally, Arcadia for 2020 came in at $18.3 billion for taxable values, which is a 4.4% increase over last year’s numbers. That includes 14,854 single-family homes, 809 apartment complexes, 995 commercial-industrial parcels for a grand total of 16,658 taxable properties. Growth is steady in Arcadia.
More importantly, that $18.3 billion translates into about $183 million for vital public services such as public safety, healthcare and public education that benefits Arcadia.