DoJ $1.5bn Japan and US Ponzi

On Nov. 29, DoJ announced conviction for a $1.5bn Japan Ponzi.

  • MRI investment company CEO, Edwin Fujinaga, solicited fraudulent investments.
  • Medical collection business was located in Las Vegas, Nevada, and Tokyo, Japan.

Allegeed Violations

  • Fujinaga solicited $1bn in investments in MRI from over 10,000 Japan residents.
  • Investors wired funds from Japan into accounts in US, under control of Fujinaga.
  • Told investors that their funds would only be used for purchasing medical claims.
  • With use of an escrow agent to ensure that MRI used funds only in that purpose.
  • Fujinaga spent less than 2% of investor funds in the purchase of medical claims.
  • The majority of the funds from new investors, were used to pay off old investors.
  • Remaining balance is paid for impermissible business, jet; mansion; luxury cars.
  • When Japanese government revoked MRI’s license in 2013, owed investors $1.5bn.


  • Sentencing set for Mar. 8, 2019, the jury returned guilty verdict in under 3 hours.