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Two charged in New York for currency fraud targeting Korean-Americans

Reuters  |  NEW YORK 

By Jonathan StempelNEW YORK (Reuters) - Two men from the New York City borough of Queens were arrested on Thursday and charged with causing roughly $1.1 million of losses in a currency fraud targeting Korean-American investors.U.S. prosecutors accused Tae Hung "Kevin" Kang, 55, of Bayside, and John Won, 49, of Flushing, of "preying upon the kinship of their target group" by enticing victims to invest in or open accounts with their company, Forexnpower.Both defendants pleaded not guilty at an afternoon hearing in Brooklyn federal court.Prosecutors said Kang and Won overstated their trading ...

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First Published: Fri, April 13 2018. 03:12 IST