Ex-Real Estate Executive Pleads Guilty to $22M Fraud
The founder of Suwanee-based real estate investment and advisory firm Capital Investment International Inc. pleaded guilty to a federal fraud charge accusing her of embezzling $22 million from investors, according to the U.S. attorney in Atlanta.
July 13, 2018 at 06:05 PM
1 minute read
The former chairwoman of the International Real Estate Council of Georgia pleaded guilty to defrauding clients of more than $22 million, the U.S. attorney for the Northern District of Georgia announced Friday. Emily Moerdermo Fu , 57—chairwoman and founder of Suwanee-based real estate investment and advisory firm Capital Investment International Inc.— pleaded guilty on Thursday to one count of mail fraud. A sentencing date has not been set.
Fu's defense lawyer, Paul Kish, said, "It's always sad when somebody gets into a financial situation where they end up doing something they otherwise wouldn't do. But the first step is always admitting that you've done something wrong. And Ms. Fu did that yesterday in court."
Before her arrest last year, Fu established multiple investment companies for clients intent on buying commercial real estate in several metro Atlanta, according to court records and federal prosecutors. Her firm also offered property management, consulting and brokerage services.
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