Randy M. Cho, a former resident of Chicago, was recently charged in US District Court in Chicago on counts of wire fraud and filing a false federal income tax return, according to the news provider.
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According to the news provider, that investor allegedly gave Cho $20,000 for the Google investment.
In all, prosecutors allege that more than 50 investors gave Cho money over a span of eight years and that he spent more than $1.5 million of the money to pay off fake profits to some of the investors.
According to the Chicago Tribune, the 39-year-old Cho also used some of the money on jewelry, cars and home furnishings.