Mequon girl accused in scheme to defraud Hmong buyers

MILWAUKEE (AP) — A Wisconsin girl is accused of main a scheme to bilk Hmong-American buyers principally from Minnesota and Wisconsin of at the least $16.5 million.

A civil criticism filed Wednesday by the Securities and Exchange Commission charged Kay Yang, 40, of Mequon, of defrauding about 70 buyers between April 2017 and April 2021.

Her husband, Chao Yang, 47, is charged as a secondary defendant for improperly receiving proceeds of the fraud.

Investigators say the scheme operated in six different states.

Authorities stated Kay Yang spent about $1.5 million on actual property, $790,000 on residing bills, $585,000 on journey and $313,000 on luxurious autos for her and her husband, together with a Lexus, Tesla and two BMWs.

She had properties in Mequon, Sheboygan, Saukville, in addition to Zimmerman, Minnesota.

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