Mahwah NJ Woman Faces Wire Fraud Charges in Federal Court
By Travis Tormey posted in Theft Offenses on Wednesday, November 27, 2013
A Mahwah NJ woman faces federal charges for allegedly defrauding investors out of more than $10 million through a series of scams.
Last month, 52-year-old Sang Rong Liu made an initial appearance in federal court in Newark NJ.
Ms. Liu had claimed to be the president of a purported textile distributor located in Hackensack, New Jersey. Authorities believe that, over a three-year period, Ms. Liu made false representations to “victim-investors,” telling them that she was the president of a wholesale textile distributor firm that had won a $156.6 million contract from the New York City Department of Design and Construction Fund. According to prosecutors, the NY department awarded no such contract to Ms. Liu’s “company.”
Authorities believe that Ms. Liu created fictitious documents to support her claims.
Ms. Liu has been charged with wire fraud. If convicted, she could be sentenced to as many as 20 years in federal prison.
After her appearance in federal court in Newark, Ms. Liu was released on a $500,000 bond secured by equity in her house. The federal judge ordered that Ms. Liu be kept in home detention, with GPS monitoring, while she awaits trial.
The judge also had Ms. Liu’s travel documents confiscated because he feared that she is a potential flight risk. The judge noted that Ms. Liu travels frequently to China, where she has extended family.
For more information about this case, access the NJ.com article entitled “Feds Charge Mahwah Woman with Defrauding U.S. and China Investors Out of $10 Million.“
