Yvette Wang Guilty of $1B Fraud Conspiracy

Yvette Wang Guilty of $1B Fraud Conspiracy

In a major blow to international scammers, Yvette Wang, 45, of New York, New York, has pleaded guilty to one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.

According to the U.S. Attorney’s Office, Wang played a leadership role in a complex scheme that defrauded thousands of victims worldwide, collecting over $1 billion in the process.

“Yvette Wang played a leadership role in a broad and complex scheme to defraud thousands,” said U.S. Attorney Damian Williams. “Through false promises and lies, this scheme collected more than $1 billion from innocent victims located throughout the country and the world. Wang inflicted pain and loss on so many, and she will now be held to account for the harm she and others caused.”

Wang faces a maximum sentence of 10 years in prison for the two charges, which are being handled by the Office’s Complex Frauds and Cybercrime Unit. Assistant U.S. Attorneys Micah F. Fergenson, Ryan B. Finkel, Justin Horton, and Juliana N. Murray are leading the prosecution.

As part of her guilty plea, Wang has agreed to pay restitution of $1,400,000,000 and to forfeit an additional $1,400,000,000 to the United States. She will be sentenced on September 10, 2024, at 11:00 a.m. by U.S. District Judge Analisa Torres.

The Federal Bureau of Investigation (FBI) praised the outstanding investigative work of its agents in bringing Wang to justice.

The case highlights the devastating impact of international scams on innocent victims worldwide. The Grimy Times will continue to follow this case and provide updates as more information becomes available.

U.S. Attorney Williams commended the FBI and the career prosecutors of his office for their hard work in investigating and prosecuting this pernicious scheme.

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