Quantcast
  

Wednesday, April 23, 2014         

 Print   Email   Comment | View 10 Comments   Most Popular   Save   Post   Retweet

State: Man used 13 fake identities to steal $1.4M

By Star-Advertiser staff

POSTED:
LAST UPDATED: 01:16 p.m. HST, Feb 11, 2014


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.







 Print   Email   Comment | View 10 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(10)
You must be subscribed to participate in discussions
By participating in online discussions you acknowledge that you have agreed to the TERMS OF SERVICE. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. Because only subscribers are allowed to comment, we have your personal information and are able to contact you. If your comments are inappropriate, you may receive a warning, and if you persist with such comments you may be banned from posting. To report comments that you believe do not follow our guidelines, email commentfeedback@staradvertiser.com.
Leave a comment

Please login to leave a comment.
GooglyMoogly wrote:
A source said he has been hospitalized after a fall.

A fall, or a PUSH?!? DUN-DUN-DUNNNN


on February 11,2014 | 11:20AM
lowtone123 wrote:
Late 80's or early 90's? Good luck tying to collect.
on February 11,2014 | 11:28AM
GONEGOLFIN wrote:
He "distinguished" his voice as opposed to disguised.
on February 11,2014 | 11:35AM
fshnpoi wrote:
put the club down and read that line once more..
on February 11,2014 | 12:08PM
808BigE wrote:
AHAHAHAHAHA
on February 11,2014 | 12:35PM
entrkn wrote:
What kind of sick joke is a Cease and Desist order and why has the state waited until the "perpetrator" got into his 80s or 90s to essentially do nothing about this? At least get him back here and incarcerate him and seize any assets he still has...
on February 11,2014 | 02:21PM
iwanaknow wrote:
He left his assets all on the gaming tables.
on February 11,2014 | 03:54PM
toad103410 wrote:
Talk about closing the barn door after..
on February 11,2014 | 07:00PM
nitpikker wrote:
its "late 70's to early 80's" but that still makes him pretty old. not much time to collect. hope he has assets.
on February 11,2014 | 03:58PM
residenttaxpayer wrote:
Good luck in trying to recover any money.....
on February 11,2014 | 08:28PM
IN OTHER NEWS
Breaking News