Multiple Businesses Investigated in Fraud Scheme | NBC 7 San Diego

Multiple Businesses Investigated in Fraud Scheme

View Comments ()



    NBC 7 San Diego
    A sign on a building located at 4715 30th St. cites four alleged businesses operating out of the facility. Police say the businesses are under investigation for fraud.

    Multiple businesses operating out of the same building in San Diego’s uptown area are now under investigation for fraud and allegedly scamming victims out of thousands of dollars, the San Diego Police Department said Thursday.

    On Wednesday, detectives from the SDPD’s Economic Crimes Unit served search warrants on four alleged businesses located at 4715 30th St. after several investment fraud complaints were reported against the businesses, which are known as North Park Toyland Parade, American Asian European Corporation (AAEC), United Family Corporation (UIFC) and Victoria House Corporation (VHC).

    Detectives said victims reported being scammed by a suspect associated with these businesses.

    In the scheme, the suspect represents himself as a wealthy investment consultant who is a retired medical doctor and supposedly manages several nonprofit enterprises.

    During investment seminars, the suspect claims he can set up investment corporations that can void state and federal income taxes, according to investigators.

    Through the investment fraud scheme, victims have been charged up to $30,000 for these services.

    The investigation into this case is ongoing, but police believe there could be other fraud victims out there.

    Anyone who feels they may have fallen prey to this scheme should contact the SDPD’s Economic Crimes Unit at (619) 446-1031 or Crime Stoppers at (888) 580-8477.

    Follow NBC 7 for the latest news, weather, and events: iPad App | iPhone App | Android App | Facebook | Twitter | Google+ | Instagram | RSS | Text Alerts | Email Alerts