CKB168 was a multi-level advertising and marketing (MLM) pyramid scheme that scammed Asian-Individuals out of $200 million. China was the place most of CKB168’s victims lived outdoors of the US.
Again in 2013, the SEC closed down CKB168. Sixteen CKB168 managers and high promoters have been sued in whole. In 2015, the DOJ additionally introduced felony expenses towards the identical individuals. A number of CKB168 defendants who have been accused of fraud settled the costs over time.
9 years later, the SEC has gotten a closing ruling towards the remaining defendants who did not settle. Through the years, We’ve got stored a unfastened eye on what is going on on with CKB168. We did not do a proper assessment of CKB168 as a result of, so far as I can inform, it principally affected individuals who spoke Chinese language.
We knew of three CKB168 settlements as of January 2022:
Cheongwha “Heywood” Chang and Toni Tong Chen for a complete of $2,101,949.81 and Heidi Mao for $784,729.
In a press launch on August 12, the SEC listed the remaining settlements, together with the latest closing judgments.
CKB, WIN, CKB168, Biz Resolution, and Cyber Children, in addition to CKB executives Hung Wai “Howard” Shern and Rui Ling “Florence” Leung, are being sued for a complete of $178,749,545; Shern and Leung may every must pay an additional $13.7 million in fines.
Daliang “David” Guo and Rosanna LS Inc. are liable for a complete of $5.1 million.
Yao Lin and Ouni Worldwide Buying and selling Inc. are every liable for $2,350,000.
Lin may must pay one other $1.89 million in fines.
Joan Congyi “JC” Ma goes for $1.95 million, and Rayla Melchor Santos goes for $1.04 million.
In parallel to CKB168 felony procedures, In June 2019, Daliang “David” Guo was sentenced to 144 months in jail.
In 2016, Wen Chen “Wendy” Lee received 21 months in jail, Chih Hsuan “Kiki” Lin received 37 months in jail, and in 2016, Cheong Wha “Heywood” Chang received 12 months in jail.
Chang’s spouse, Toni Tong Chen, was additionally given 20 months in jail in 2016. Apart from Guo, the entire felony defendants within the CKB168 case pleaded responsible.
In 2018, a federal jury discovered Guo responsible.