Things continue to heat up in Arcadia, the USFIA Ponzi scheme’s home turf, with news today that City Council staff are openly requesting investors contact local police.

Seeking comment from City officials regarding
the ties of one of their own to USFIA
, Arcadia Weekly were told by City Manager Dominic Lazzaretto;

Anyone with specific information of criminal activity associated with this business, or any other business in the City of Arcadia, is encouraged to contact the Arcadia Police Department to file a police report so the matter can be promptly investigated.

To what extent the Arcadia Police Department are able to act on and investigate USFIA complaints is unclear, but one would imagine any complaints received would be forwarded onto the relevant authorities.

Arcadia City Council member John Wuo’s involvement in the scheme meanwhile continues to plumb the depths of murkiness.

Lazzaretto refused to comment on Wuo’s ties to USFIA and GemCoin, but Arcadia Weekly was able to get a response from Wuo himself.

Arcadia Council Member John Wuo on Wednesday denied having a connection to an active company involving the founder of a controversial cryptocurrency known as Gemcoin.

Wuo’s latest denial was made following revelations Wuo and USFIA Founder Steve Chen were business partners through 24 HD Surveillance.

24 HD Surveillance’s registered address on the document in question is that of USFIA.

Beyond working as a real-estate consultant for Chen, Wuo had previously represented he had no other business relationships with Chen.

As to how Wuo’s signature appeared on filed 24 HD Surveillance registration documents, Wuo told Arcadia Weekly that

he told George Klau, the CEO of Arcadia-based 24 HD Surveillance, to remove his name from documents filed with the California Secretary of State.

Wuo also indicated that Klau agreed to remove the councilman’s name and address from the company’s state filings, and that Klau was unaware of who entered Wuo’s information in the document.

Wuo spun the same story in regards to his connections to USFIA back in July, however his name and image were
used to promote USFIA
as recently as late last month.

In an effort to ascertain how Wuo’s information wound up on on 24 HD Surveillance documents filed with the California Secretary of State, the Sierra Madre Tattler reviewed Wuo’s signature both on the document and as it appeared on Wuo’s California Form 700.

The Tattler found both signatures to be remarkably similar. But remember, neither John Wuo or George Klau have any idea how Wuo’s signature got on the 24 HD Surveillance documents.

Some progress however has been made in getting Wuo to acknowledge his ties to Steve Chen and his dodgy business dealings, with Wuo also telling Arcadia Weekly

connections he may have to Chen and Gemcoin “[do] not have anything to do with city business.”

It should of course be noted that Wuo’s was credited as the “Mayor of Arcadia” at the USFIA GemCoin events he attended.

And

🤖 Quick Answer

What action did Arcadia City Council take regarding USFIA investor complaints?
Arcadia City Council staff publicly requested investors to contact the Arcadia Police Department to file reports about criminal activity associated with the USFIA Ponzi scheme. City Manager Dominic Lazzaretto encouraged anyone with specific information to report to local police for investigation and forwarding to relevant authorities.

Why did Arcadia officials issue guidance to USFIA investors?
The statement addressed concerns about connections between City officials and USFIA, the Ponzi scheme based in Arcadia. By directing investors to file police reports, City Council established a formal procedure for documenting complaints and ensuring proper investigation through appropriate law enforcement channels.

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