Former Chicago man faces federal fraud charges

December 27, 2010 3:16:36 PM PST
A former Chicago man has been charged with engaging in a multi-million dollar investment fraud scheme.

Thirty-nine-year-old Randy M. Cho now lives in Massachusetts.

Federal authorities say he swindled nearly $8 million from more than 50 victims. He led them to believe they were buying shares of stock in well-known companies.

However, Cho allegedly used a significant portion of the funds for his own personal benefit.

He is charged with one count of wire fraud and one count of filing a false federal income tax return.


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