SAN JOSE, Calif. (AP) - Federal prosecutors say a Northern California couple has been indicted in a multi-million dollar scheme in which they allegedly leased luxury cars and exported them to Asia.
According to court documents unsealed Thursday, 58-year-old Yujen Chen and his wife, 56-year-old Maria Chen, both of Cupertino, face 24 felony charges including wire fraud, money laundering and identity theft in the alleged fraud totaling $3.3 million.
U.S. Attorney Melinda Haag says the couple used their auto business to recruit friends and others to lease Porsche, Mercedes-Benz, Audi, and BMW cars that were shipped abroad.
Prosecutors say the couple promised those straw lessees they would take over the leases but they never made payments.
The couple were released to home confinement.
They are due back in court on Dec. 10.
Feds: Cupertino Couple Leased Luxury Cars, Exported to Asia
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