PONTIAC, Mich. (WXYZ) — Two Chinese nationals appeared in court Wednesday facing charges tied to an alleged investment scam involving promises of quick returns from supercomputers and AI ventures.
Yu-Lin Li and Shang-Yi Ko stood before a judge in Novi, accused of convincing victims to hand over large sums of cash in late June. Prosecutors say the suspects arranged repeated meetings with victims in a restaurant parking lot, collecting cash for fraudulent investment opportunities.
One victim, a married woman who requested anonymity, shared her experience. She believed her money was going toward a “smart technology business.” She revealed that at least $20,000 was handed over each time, with a recent attempt to collect $90,000 thwarted by an arrest.
The scammers also required victims to sign confidential agreements, forbidding them from discussing the investments with spouses or friends.
Attorneys for Li and Ko declined to comment. The judge postponed the pretrial hearing to allow both sides time to review video evidence, rescheduling for two weeks from now.
Oakland County Prosecutor Karen McDonald warned, “This kind of thing can ruin somebody’s life. They use techniques that are very persuasive and sometimes even fear. Someone urgently wanting your money in cash and showing up personally in a parking lot is a classic tactic.”
The victim expressed disbelief over the ordeal: “I’m just like, am I in a dream? Or something? I cannot believe that happened to us.”
