Connecticut Financial Crimes Task Force:
FORMER WESTPORT RESIDENT ADMITS DEFRAUDING INVESTORS
David B. Fein, United States Attorney for the District of Connecticut, announced that SUSAN ITALIANO WONG, 38, of New York, N.Y., formerly of Westport, Conn., waived her right to indictment and pleaded guilty today before United States District Judge Janet Bond Arterton in New Haven to one count of wire fraud stemming from an investment fraud scheme.
According to court documents and statements made in court, from January 2010 to February 2011, WONG defrauded several individuals of a total of approximately $80,000 by falsely representing that she would place the victims’ money in a safe, exclusive, high-yield investment fund that would produce returns at greater than market rates with little or no risk. WONG also falsely represented that she would refund the victims’ money to them upon their request. However, WONG did not invest the victims’ funds as represented, but used the funds to pay her living, travel, entertainment, and business expenses.
Judge Arterton has scheduled sentencing for February 13, 2012, at which time WONG faces a maximum term of imprisonment of 20 years and fine of up to $250,000. WONG also will be ordered to pay restitution to the victims of her offense.
This matter is being investigated by the Connecticut Financial Crimes Task Force, which includes members of the United States Secret Service; the United States Postal Inspection Service; the United States Department of State, Bureau of Diplomatic Security; the Connecticut State Police; and the Glastonbury, Greenwich, Hartford, New Haven and Shelton Police Departments. The Westport Police Department also has participated in the investigation.
The case is being prosecuted by Assistant United States Attorney Elizabeth A. Latif.
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