Arcadia woman gets 20 years in prison for bilking investors in Coachella development out of million

LOS ANGELES  — A woman who bilked investors in a Southern California hotel and condominium project out of at least $26 million was sentenced Monday...

November 22, 2022
10:46 AM

LOS ANGELES  — A woman who bilked investors in a Southern California hotel and condominium project out of at least $26 million was sentenced Monday to 20 years in federal prison. Ruixue 'Serena' Shi, 38, of Arcadia was sentenced after a judge refused to allow her to withdraw her plea last year to wire fraud. 'There has been no acceptance of responsibility; there has been a denial of responsibility,' U.S. District Judge R. Gary Klausner said, according to a press release from the U.S. Department of Justice.

The Associated Press