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AP National Business

Father, son arrested in Japan get US prison for Ponzi scheme

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Published 6:07 PM

By KEN RITTER
Associated Press

LAS VEGAS (AP) — Two former investment executives arrested in Japan have been sentenced to five years in a U.S. prison for their roles in a $1.5 billion international Ponzi scheme with 10,000 victims in the U.S. and abroad. Junzo Suzuki and his son, Paul Suzuki, apologized Tuesday before each was sentenced, according to court records and their attorney. The judge scheduled a June 28 hearing on a possible $141 million in restitution. Prosecutors compare the case involving Las Vegas-based MRI International Inc. with the biggest-ever U.S. fraud cases. A federal jury in Las Vegas found co-defendant Edwin Fujinaga guilty in 2019 of heading the scheme. He’s now 75 and serving 50 years in a U.S. prison.

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