It wasn’t long into researching
BehindMLM’s USFIA review
that came across photos of John Wuo with USFIA management.
Wuo was an elected government official of the City of Arcadia, California, so his potential involvement in USFIA was concerning.
As USFIA’s presence continued to grow in Arcadia, residents began to question Wuo’s involvement in the scheme.
Less than a week after our published review, Wuo fronted local Arcadia media and
denied any involvement in USFIA
.
Speaking to the Arcadia Weekly, at the time Wuo claimed
he has no financial interest in and hasn’t received any compensation from the companies connected to Gemcoin, nor is he a Gemcoin investor.
The
SEC shut down USFIA
for being a $32 million dollar Ponzi scheme last September.
Despite initially
ignoring calls for his resignation
, John Wuo
resigned from the Arcadia City Council
on October 7th, 2015.
The day before Wuo’s resignation, California’s Fair Political Practices Commission confirmed it was investigating Wuo for potential violations of the Political Reform Act.
Pertaining to Wuo’s involvement in USFIA, the Political Reform Act
prohibits public officials from participating in governmental decisions affecting their “financial interests” and requires certain public officials to disclose certain assets and income.
The FPPC’s investigation was spurred by an official complaint filed by Arcadia resident, David Arvizu.
In the months leading up to the SEC’s shutdown of USFIA, Arvizu
spear-headed public critcism
of
Wuo’s ties to USFIA
at Arcadia City Council meetings.
On November 7th, 2016, the FPPC sent David Arvizu notice that their investigation into John Wuo had been concluded.
The letter itself, as published by the Sierra Madre Tattler, doesn’t contain any specifics as to the outcome of the investigation.
It does however link to an upcoming meeting, at which the outcome of the investigation and proposed resolution will be ‘submitted for consideration’.
This meeting is to be held on November 17th. The published agenda lists “the matter of John Wuo” as follows:
John Wuo, a former member of the Arcadia City Council, failed to disclose on his 2014 and 2015 Annual Statements of Economic Interests that he received income from US Fine Arts Investments and that he had a business position as an officer with 24 HD Surveillance, in violation of Government Code Sections 87203, 87207, and 87209 (2 counts).
Total Proposed Penalty: $2,000.
Now obviously the penalty is not the headline here, rather it’s the fact that John Wuo
publicly lied
about his involvement in USFIA.
Unfortunately the FPPC’s agenda does not reveal how much John Wuo profited from USFIA. However I suspect that is almost certainly going to come up in future SEC and/or Receiver filings.
The November 17th FPPC meeting is open to the public, so if how much Wuo made comes up I’m sure it will be reported on. Whether Wuo himself will attend the meeting is unclear.
Meanwhile the SEC’s case against U
🤖 Quick Answer
What fine did John Wuo receive from the FPPC regarding USFIA?John Wuo, an elected government official of Arcadia, California, was fined $2,000 by the Fair Political Practices Commission (FPPC) in connection with the USFIA case. The fine relates to his undisclosed involvement with USFIA, a scheme that was subsequently shut down by the SEC as a $32 million Ponzi scheme.
Why did John Wuo's involvement with USFIA raise concerns among Arcadia residents?
Wuo's involvement raised concerns because he held the position of elected government official in Arcadia, California. His association with USFIA management, documented through photographs, created a conflict of interest that prompted residents to question his participation in what would later be identified as a fraudulent scheme.
**How did John Wuo respond to allegations of involvement with US
🔗 Related Articles
- DF Finance Review: “Click a button” daily tasks Ponzi scheme
- Michael Faust’s Project Lantern Ponzi collapses
- OfferHubb v2.0: Mixing AdSurf Daily & Zeek Rewards
- Two iCon Group celebrities to be prosecuted in Thailand
- Scott Morris settles Ponzi Patrol defamation lawsuit
