“While her victims suffered financial ruin and psychological torment, (Shi) was living large off their investments,” prosecutors said in a sentencing document.
In court statements, more than two dozen victims submitted statements.
“Several discussed their reliance on Shi’s false promises that their investments would assist them in securing visas to immigrate to the United States. One victim even wrote that, after losing his retirement savings to Shi’s scheme, he ‘even contemplated suicide,' the Department of Justice statement said.
In addition to prison time, Shi was ordered to pay $35.8 million in restitution.