About 95% of the more than 2,700 security alarms the Arcadia Police Department responded to last year turned out to be false alarms. Arcadia police Chief Bob Sanderson is asking the City Council to implement a $100 fine for a third false alarm issued in a 365-day period. A $200 fine for the fourth false alarm and $300 for the fifth and all subsequent false alarms would be part of the new ordinance that City Council will consider next month.
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.
Arcadia City Councilman John Wuo resigned, citing health and personal reasons. He had served on council for 12 years, including as mayor for 3 terms. His resignation comes on the heels of a lawsuit and intense scrutiny of his alleged involvement with GemCoin (digital currency) and alleged violations of the Political Reform Act's statement of economic interests disclosure requirement and conflict of interest.
Arcadia company Gemcoin, a digital currency or "cryptocurrency," has been using Arcadia City Councilman John Wuo's image on its website and marketing materials. John Wuo denies any endorsement of Gemcoin.
Arcadia Councilman John Wuo's ties to GemCoin (digital currency) draw scrutiny. The Fair Political Practices Commission is investigating him for a potential violation of the Political Reform Act. Arcadia resident David Arvizu filed the complaint with the FPPC.
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.
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.
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).
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.
The City is going to enforce ordinance on false burglar alarms with a $100 fine for the fourth and fifth false alarms in a 1-year period and $200 for each one after that.
Documents reveal fraud case against Arcadia-based Gemcoin, a cryptocurrency investment scheme. The Securities and Exchange Commission's (SEC) ultimate goal is to make Gemcoin chief Steve Chen return alleged fraudulently acquired millions with interest, pay hefty fines, and ban him from the securities business.
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.
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.
GemCoin (cryptocurrency, digital currency) investors share fraud concerns with Arcadia City Council. Councilman John Wuo declined to respond to accusations of wrongdoing and their call for his resignation from council. Former Arcadia council member Floretta Lauber defended John Wuo.
Monrovia's Aztec Hotel is showcasing fine art in its non-profit Aztec Art Center Route 66 Gallery. Visitors are not just from Monrovia, but from Pasadena, Duarte and Arcadia. A painting by Manuel Barillas is pictured. The hotel is owned by Kathie Reece-McNeill. The hotel was designed in 1925 by English architect Robert Stacy-Judd and was inspired by Mayan and Aztect structures. The building has been on the National Register of Historic Places since 1976.
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.