Contact Us
Make My Homepage

Mahwah Woman Accused of Making Millions in Phony Investment Schemes

The president of a purported textile wholesale distributor headquartered in New Jersey has been arrested by special agents of the FBI and the U.S. Treasury Department, for allegedly defrauding investors in the United States and China of more than $10 million in investment fraud schemes.

Fifty two year old Sara Rong Liu of Mahwah is charged with wire fraud.

According to the complaint unsealed today, Liu, the president of Westone, Inc., a company purportedly involved in the wholesale distribution of textiles and interior design, falsely represented to investors that Westone had been awarded a lucrative $156 million contract by the New York City Department of Design and Construction Fund.

She allegedly created a number of fictitious contracts, emails and other documents that were sent to investors, who then gave Liu millions of dollars.

The wire fraud count carries a maximum potential penalty of 20 years in prison and a $250, 000 fine. Liu is expected to make an appearance in federal court this afternoon.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.