State authorities cited a man for allegedly defrauding a Hawaii woman and her friends out of $1.4 million, the Department of Commerce and Consumer Affairs said Tuesday in a news release.

Bing Long Yee told the woman he ran several businesses and needed money to fund them, according to the DCCA’s order to cease and desist. He solicited money from the woman, who is now in her late 80s, from 1988 to last February. 

Yee allegedly created 13 fake identities and disguised his voice to assume three personas with the woman over the phone, the order said. He allegedly spent $1,414,145 on personal expenses and gambling at casinos in Las Vegas.

The DCCA said Yee was not registered to transact securities in Hawaii and the security he sold to the woman was unregistered. The order seeks $150,000 in penalties, restitution for the woman, and a permanent injunction against Yee to transact securities in the state.

Yee, who is believed to be in his late 70s or early 80s, is currently living in Washington state, a DCCA spokesman said. A source said he has been hospitalized after a fall. An FBI spokesman said a criminal investigation is ongoing.

Anyone who has been solicited by or has transacted business with Yee is urged to call the state Securities Enforcement Branch at 586-2740.