Man Arrested at Money 20/20 By Feds Has Been Indicted
When plainclothes law enforcement agents escorted an unnamed person through the Venetian away from the Money 20/20 conference in Las Vegas last week, a deBanked reporter followed the entire encounter. Though we were able to make a positive identification as to who the man was at the time, cross-checks with federal court records and a local jail turned up nothing.
That all changed the day after deBanked ran the story about the encounter as federal authorities unsealed an indictment of one Jianxiang Shi aka Morgan Shi aka Long Niu. Indicted for using fraudulently obtained Visas, Shi had been at the conference as an exhibitor.
“Jianxiang Shi was arrested this week at a convention in Las Vegas, Nevada where he was promoting a cryptocurrency venture,” the Department of Justice announced. “He made his first federal court appearance yesterday before a magistrate judge in Las Vegas. During the appearance, the federal magistrate judge ordered Shi detained pending his trial in Miami, finding that Shi presents a risk of flight if released. Future court proceedings will occur in the Southern District of Florida.”
Shi was the subject of a Wall Street Journal exposé in 2019 that named him as one of China’s top most-wanted economic fugitives for allegedly masterminding an illegal $5.8 billion Ponzi-like fundraising scheme where $2.3 billion is missing.
The authorities state that an indictment is only an accusation and that defendants are presumed innocent unless and until proven guilty.Last modified: October 30, 2021
Sean Murray is the President and Chief Editor of deBanked and the founder of the Broker Fair Conference. Connect with me on LinkedIn or follow me on twitter. You can view all future deBanked events here.