A former Chicago man who pleaded guilty to swindling nearly $8 million from more than 50 victims who thought they were buying specially discounted stocks in Google, Facebook and other companies has been sentenced to 12 years in prison.
The U.S. attorney's office says 41-year-old Randy Cho of Seattle was also ordered to pay $7.9 million in restitution to investors and nearly $1.5 million to the Internal Revenue Service. U.S. District Judge James Zagel on Friday also ordered Cho taken into custody immediately.
Cho was arrested in late 2010 and pleaded guilty last August to wire fraud and tax fraud.
Prosecutors say Cho ran the scheme from locations in Chicago, Seattle, Boston and Newton, Mass.
Monday, February 25 2013 1:41 PM EST2013-02-25 18:41:37 GMT
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Just as Oscar host Seth MacFarlane set his sights on a variety of targets with a mixture of hits and misses, the motion picture academy spread the gold around to a varied slate of films.
Tuesday, February 5 2013 3:09 PM EST2013-02-05 20:09:54 GMT
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Millions and millions of people tuned in to watch the Super Bowl, and including our friends serving overseas. Thousands of Chicago-style pizzas were sent overseas Tuesday.
Friday, May 24 2013 11:00 PM EDT2013-05-25 03:00:57 GMT
An Evanston high school varsity baseball team will not play in the playoff tournament this weekend after a group of students, including team members, allegedly "sexted" risque photos to each other.
An Evanston high school varsity baseball team will not play in the playoff tournament this weekend after a group of students, including team members, allegedly "sexted" risque photos to each other.
Friday, May 24 2013 10:16 PM EDT2013-05-25 02:16:28 GMT
A Lake County jury has convicted James Ealy of strangling his former boss during a 2006 robbery at the north suburban Burger King restaurant where he once worked.
A Lake County jury has convicted James Ealy of strangling his former boss during a 2006 robbery at the north suburban Burger King restaurant where he once worked.
Friday, May 24 2013 5:40 PM EDT2013-05-24 21:40:48 GMT
Several military families were honored in Orland Park on Friday, and got to meet country music superstar Tim McGraw. Five of those families are from the Chicago area, and they were excited to meet him.
Several military families were honored in Orland Park on Friday, and got to meet country music superstar Tim McGraw. Five of those families are from the Chicago area, and they were excited to meet him.
Police say actress Amanda Bynes has been arrested in midtown Manhattan after she heaved a marijuana bong out of a window.
Actress Amanda Bynes appeared disheveled in a long blond wig and sweats Friday in a criminal court where she was charged with reckless endangerment after police said she heaved a marijuana bong out the window of her...
Friday, May 24 2013 10:16 PM EDT2013-05-25 02:16:28 GMT
A Lake County jury has convicted James Ealy of strangling his former boss during a 2006 robbery at the north suburban Burger King restaurant where he once worked.
A Lake County jury has convicted James Ealy of strangling his former boss during a 2006 robbery at the north suburban Burger King restaurant where he once worked.
Thursday, May 23 2013 8:32 PM EDT2013-05-24 00:32:17 GMT
A couple accused of murdering a 1-month-old boy and allegedly dumping the body in the Des Plaines River pleaded not guilty to the crime during a Thursday court hearing in Maywood.
A couple accused of murdering a 1-month-old boy and allegedly dumping the body in the Des Plaines River pleaded not guilty to the crime during a Thursday court hearing in Maywood.
Thursday, May 23 2013 4:46 PM EDT2013-05-23 20:46:28 GMT
Thieves have struck a Streeterville area construction site a handful of times over the past week, taking tools and construction materials, police said.
Thieves have struck a Streeterville area construction site a handful of times over the past week, taking tools and construction materials, police said.
Thursday, May 23 2013 2:15 PM EDT2013-05-23 18:15:44 GMT
Antwone Price had just moved into a new house in the south suburbs, and he was talking about finally marrying the woman he'd been with for several years — the woman with whom he shared a baby girl.
Antwone Price had just moved into a new house in the south suburbs, and he was talking about finally marrying the woman he'd been with for several years — the woman with whom he shared a baby girl.
