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Federal Way woman pleads guilty to wire, bank fraud
Jenni Yoon Jeong Lee admitted using shell companies and fake guarantees to take more than $3 million from at least 28 investors, prosecutors said.
- On Thursday, July 2, Federal Way resident Jenni Yoon Jeong Lee pleaded guilty in Seattle District Court to three counts of wire fraud and two counts of bank fraud following an FBI investigation.
- Lee presented herself as an investment advisor, creating shell companies to defraud at least 28 Korean community members of $3 million by promising guaranteed returns on "investments."
- Investigators found Lee spent at least $900,000 at casinos and operated a Ponzi scheme, with actual losses exceeding $1.5 million after she gained access to victims' IRA accounts.
- First Assistant Attorney Charles Neil Floyd noted Lee admitted to the gambling addiction, and she faces up to 30 years in prison with sentencing scheduled for Sept. 18, 2026.
- She claimed in writing that she would place victim funds in accounts guaranteeing returns as high as 10%, often falsely representing that the principal was fully guaranteed with no risk.
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Woman Admits To Stealing Over $3,000,000 in Washington State Bank Fraud Scheme
A woman in Washington State has pleaded guilty to charges of wire fraud and bank fraud in a scheme that defrauded victims of millions. The case involves a fake investment advisor who targeted the Korean community including many elderly people, says the U.S. Department of Justice (DOJ). Jenni Yoon Jeong Lee, 53, of Federal Way […]
Vashon-Maury Island Beachcomber+13 Reposted by 13 other sources
Federal Way woman pleads guilty to wire, bank fraud
The 53-year-old woman presented herself as an investment advisor and defrauded $3 million from people in the Korean community, many of whom are elderly.
·Vashon, United States
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