October 19, 2023
Ponzi Scheme
The SEC charged Bin Hao and his company Qidian LLC with allegedly fraudulently raising over $10 million from at least 60 investors through an unregistered securities offering to members of the Chinese-American community. Hao promised high annual rates of return but failed to disclose the Miami real estate company’s poor financial condition. He allegedly used millions of dollars of new investor money to pay prior investors in Ponzi-like fashion as well as for personal expenses.
"*" indicates required fields
© 2025 ChapmanAlbin
This site contains attorney advertising. The attorneys at ChapmanAlbin are licensed to practice law in Ohio and Michigan. Any reference to past cases or successes made herein should not be construed as a guarantee of any future outcome. Each client and each client’s case is unique, and no result or outcome is or can ever be guaranteed. The information provided in this website is offered for general information purposes only; it is not offered as and does not constitute legal advice in any way. // Disclaimer
Notifications