USFIA hold GemCoin gala at Steve Chen McMansion
Despite denials from USFIA that they are running the GemCoin Ponzi scheme, video footage has emerged clearly suggesting otherwise.
The footage is dated September 1st and appears to be a gathering of VIP GemCoin investors, who were trucked in via minivan:
A ribbon cutting ceremony is caught on film, outside of what is referred to as a “GemCoin VIP club”.
A speaker in the video refers to the building as “the boss’ mansion”, suggesting Steve Chen is the owner of the property.
Chen himself boasts later in the video that inside facilities included mahjong, a theater and other activities for GemCoin VIP investors to participate in:
After cutting the ceremonial ribbon, those in attendance stood outside the building to chant “GemCoin! GemCoin! GemCoin!” for the camera.
Steve Chen’s GemCoin goons then doused those gathered in alcohol:
The getup Chen and his bodyguards wore is quite curious. The two primary bouncers were dressed as police officers, with matching badged uniforms:
Chen himself wore a blue-grey poloshirt, also adorned with badges:
Nametags worn by Chen and his goonsquad read:
Why Steve Chen was armed at the event was not clear. Over the past week, several USFIA investors have claimed Chen’s GemCoin goons threatened them with gun violence.
Also not clear is what these USFIA investors did to obtain GemCoin VIP status:
While they seemingly make toasts to their success, thousands of GemCoin investors have purportedly lost well over a hundred million dollars in the scam.
If nothing else, I suppose they at least now have some idea of where their money went…
Meanwhile as of two days ago, USFIA are publicly maintaining they have nothing to do with GemCoin.
Footnote: The video referenced in this article was uploaded on September 16th to the YouTube channel “GemCoin Bank”.
It can be viewed in its entirety below:
(video link removed)
Update 21st September 2015 – A few days after this article was published, the owner of the GemCoin Bank YouTube channel removed the USFIA video cited in this article.
Making note of this incase is becomes relevant in the future:
The domain advertised in the video is owned by “JOSE MANUEL SANCHEZ GARCIA”, with an address provided in Malaga, Spain.
It features a Spanish dubbing of the stock USFIA/AFG GemCoin promo video.
This might signal a push to recruit EU/PT/ES investors to keep GemCoin going that little bit longer.
Spain CMNV outlawed gemcoin back in May, didn’t they?
Got it. Great Wall security training of San Gabriel. That’s the badges source.
since steve chen&party were forced to cancel their gemcoin event on august 28-30, 2015, due to protesters, he must have hosted the event at his mcmansion home.
he carries a gun in a hip holster at home??
what is he so afraid of, arcadian peacocks??
and hahaha, how can he run around claiming USFIA has nothing to do with gemcoin, after this video?
this would be plain funny, if there were no guns or goons around.
All the badges say “security officer”, BTW.
Jose here owns a couple domains, gemcoin-bank (dot) com and gemcoin (dot) info, in addition to the one you blurred out.
And yes, Spain did call Gemcoin and USFIA “chirinquito financiero” (financial scam)
The URL ref’ed is no longer active, but company USFIA INC is mentioned directly.
I don’t think Steve Chen lives in this house. It is probably on the market or recently sold, otherwise why are they getting things out of cardboard boxes (2:24, 3:00, etc.) and why are they sitting on folding chairs outside when there is plenty of indoor seating?
Pretty sure it’s this place:
Which was sold to Steve Chen in 2014 and then immediately flipped to a real estate company he owns called Ahome. Who knows what THAT was about.
Looking at the photos, it’s interesting to compare the decor from the previous owners, to the current Nouvelle Chinese Gangsta style.
Ahome is a Steve Chen company, who also employs Lenny Johnson.
Also interesting to look at the photos here, amlmskeptic.blogspot.fr/2015/07/usfia-update-who-is-this-security-guard.html that show some of the same characters attending Gemcoin events in May and early.
Seems as if Chen trots these people out for any photo opportunity. Doubt very much they have invested in Gemcoin, more likely they’re on Chen’s payroll.
As we already know, his bodyguard moonlights as a “professional gem appraiser.” According to CA Bureau of Security and Investigation Services, www2.dca.ca.gov/pls/wllpub/WLLQRYNA$LCEV2.QueryView?P_LICENSE_NUMBER=1866116&P_LTE_ID=642 the bodyguard’s name is John Bao Ping Zhang, he’s a licensed security guard and has a firearm permit.
Same is true of Steve Chen, by the way. What a charming group.
So in other words, Ahome = GemCoin money laundering…
Man the SEC docs on this one are going to be one hell of a read.
Case has gone National. It’s now on FoxNews.
and its gathering steam in arcadia too according to an article by the sierra madre tattler today.
a leading businessman and influencer of the asian community in arcadia, kin hui, has publicly trashed john wuo on facebook:
and believe it or not, sho tays ‘chinese daily USA’ has a long article describing the events in the city council meeting of sept 15th.
this is the same sho tay who deleted an article a few days back, about gemcoin and steve chen and john wuo.
i guess sho tay is publicly distancing himself from john wuo now.
will sho tay unfriend john wuo on facebook too? 🙂
Article says “Former Mayor”?
Is there a method to verify their license numbers which they must have in order to carry or be in possession of such weapons?
one or two localities attempted to establish publicly accessible carry permit registries, but they were “shot down” by the gun lobby, privacy advocates, the NRA, and 4th Amendment conservatives. its a touchy subject.
John Wuo was mayor, and current city councilman, of Arcadia.
I translated it all. 🙂 Google Translate left much to be desired.
Original at uscnd.com/article/article-c187391.aspx
Kin Hui may be a bigger partner with Sho Tay than we expected. Hui’s Singpoli Group shares banners, front and center on the ChineseDailyNews website (next to Sho Tay’s gun range).
After reading K Chang’s translation, I’m guessing Sho Tay is running for reelection next year?
I know he didn’t personally write all that, but as owner of the publication that’s one of the biggest 180s I’ve ever seen.
Pretty obvious Sho Tay wants people to forget his site has covered both Gemcoin and WCM in great detail and fully supported both.
I’m hoping the Federal side of the investigation drags him into the fray soon..
that was a tremendous effort. boss, you deserve a medal or something! 🙂
in another thread i raised suspicions about whether chen may be involved in some underworld gun market.
today a commentator on the SMtattler blog has raised similar suspicions:
where there’s smoke, there’s fire.
i’m pretty sure the investigating agencies will be looking into the gun trade angle too.
i’m hoping people will raise suspicions about ning pan’s gun shot death too. let no stone remain unturned in this bloody mess.
You hit that nail on the head Kasey, look who was hosting his election night party..
And he’s a partner in the whole news site thing..
Video’s gone. Wonder if Steve Chen filed a DMCA takedown on it? 😀
“Removed by the user” = owner of the YT account pulled it.
Lol, run scammers run – youtube.com/playlist?list=PL5DiRwSYvNPkdurrOZN6iYeUPPOYkqFhf
Hmmm… he has a slide show/video of the May 2015 event still up! 😀
Wait, it has the full Wuo speech on it! (Not that long though)
I’m pretty sure I have all of the videos which were posted there if anyone wants them.
As for the speech, what did he actually say, and can it be construed as an endorsement?
@Oz – I haven’t said it yet, but you picked the perfect moment for the Mannix screen grab – still chuckling about that one.
He’s just a funny looking kind of guy. That nose… surely GemCoin riches would cover some cosmetic enhancements?
There’s a article in Vietnam about how locals are getting scammed. I’m on mobile so I can’t do the URLs
Seems Gemcoin has gotten there too, and apparently all around that part of the world (Malaysia, Indonesia, etc.)
K Chang, Anjali and Oz. Three most learned people in this forum. Hats of to your dedication in putting out the plethora of information for all to read.
(Ozedit: Offtopic derail attempts removed)
You can get an answer from me … I’m not chasing any career opportunity here, and I spend an average of 1 or 2 hours per day on this type of work — just to keep myself updated.
“Limited time” is one of the reasons for why I haven’t posted anything in this thread. Another reason is that most sources are in Chinese, i.e. I don’t have the right type of qualification.
I don’t have that type of motives. “Bring some happiness in their lives” sounds more like someone who has lost contact with reality.
(Ozedit: This is why we don’t reply to offtopic derail attempts M_Norway.)