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Watch out for scam artist Hiep Trinh, aka Alex Trinh
This man is preying on old people, women and Vietnamese in California, Michigan and Texas. He offers to sell stock in Turan Petroleum, Inc., NRG Resources, Inc. and other companies while he is under the State of California’s restraining order not to sell securities. The Orange County Superior Court issued an injunction order on 02/17/2011 against Hiep Trinh from violating California securities laws. (30-2010-[protected]-CU-SL-CJC)
His Methods of Operation:
He takes investors to Morton’s Steakhouse in Costa Mesa or the Pacific Club in Newport Beach to impress them with his fake wealth. He buys them fancy dinners, expensive wine and then induces them to invest in his companies. He charms women, jewelry shop owners to sell them his own shares in these companies. The man knows no shame.
He told investors in 2006 he invested millions of dollars in his companies. Yet he filed for bankruptcy in 2004, declaring zero assets.
He promises to take his companies public while he is banned by FINRA (Financial Industry Regulatory Authority) (formerly NASD, National Association of Securities Dealers) from associating with its members. This man cannot take any company public.
He told investors of his and his friend and business partner, Yuri Vanetik’s powerful political connections to gain the investors’ trust and confidence. Hiep Trinh and Yuri Vanetik were partners in Private Equity Management Group.
Hiep Trinh told investors that Yuri Vanetik’s father, Anatoly Vanetik considers him as his own son. His business partner and best friend, Yuri Vanetik and he were big contributors to the Republican party and Yuri is member of the “Republican National Committee Team Eagles” and one day, Yuri Vanetik would be appointed to a Republican cabinet. They knew many people in high places. Hiep Trinh told investors in many occasions that someday he, too, would be appointed ambassador. See www.huffingtonpost.com and www.campaignmoney.com.
In order to impress investors and their friends and to show them that he and his friend, Yuri Vanetik knew people in high places, Hiep Trinh invited investors to President Bush’s ranch in Crawford, Texas for a Republican National Team Eagles private meeting with the President as well to Washington to attend the Republican National Committee’s meetings and to have pictures taken with President Bush and other republican dignitaries.
In 2007, to impress investors and to show them that he knew people in high places, Hiep Trinh invited them to a fund raising, that HE HOSTED for Presidential candidate, Mayor Giuliani. He told investors that with the contributions he and his friend Yuri Vanetik donated, he would be ambassador if his candidate got elected.
He sent investors his picture with President Bush to impress them with his political connections.
The Victims:
We were induced in buying his stocks in 2005 and 2006 with the promises his companies would go public in a few months. That was 6 years ago. Nothing has happened. Now he is being sued by more than 40 investors/stockholders and the State of California.
1. State of California sues Hiep Trinh for securities fraud on 07/15/2010 in OC. (30-2010-[protected]-CU-SL-CJC)
2. Michael Mai and more than 20 investors sue Hiep Trinh for fraud and breach of contract on 12/30/2008 in OC. (30-2008-[protected]-CU-BC-CJC)
3. Tony Nguyen sues Hiep Trinh for fraud and breach of contract on 10/21/2008 in OC. (30-2008-[protected]-CU-BC-CJC)
4. Hector Salazar and six investors sue Hiep Trinh for fraud and Breach of contract on 04/06/2007 in OC. (07CC04698)
5. Son Bui sued Hiep Trinh for fraud on 06/01/2009 in OC. (30-2009-[protected]-CU-BC-WJC)
6. Khanh Mai sued CMS (one of Hiep’s many front companies) for fraud and breach of contract on 12/19/2007 in San Jose. (1-07-CV-101330, California Superior Court, Santa Clara county)
7. Son Bui sued Hiep Trinh for fraud & breach of contract on 10/15/2008 in Clark county, Nevada. (A569048, Dept. X)
8. Turan Petroleum, Inc. sued Hiep Trinh for securities fraud in US District Court on 10/23/2008. (CV 08-07017 CBM)
9. Private Equity Management Group sued Hiep Trinh on 08/08/2008 in OC. (30-2008-[protected]-CU-BT-CJC)
10. Hiep Trinh was sued by his own attorneys, Greenwald & Hoffman on 09/03/2010 in OC. (30-2010-[protected]-CU-CL-CJC)
When he heard that the sons and daughters of South Vietnam’s fallen soldiers wanted to raise money to restore the national cemetery where their fathers were buried, he offered to double or triple their investments so they can use the additional profits for that noble cause. That was in 2007. Nothing happens since then, no investor’s reports, no profit statement, no public offering.
His Background and the Evidences:
This man has been sued so many times, filed for bankruptcy, lost his stockbroker’s licenses, was banned by the US government from working in financial institutions ever again for stealing bank customer’s money.
• Hank Rivera, a disabled bank customer sued Hiep Trinh on 02/02/2001 for stealing $10, 000 from his personal injury settlement fund at Cal Fed bank in Orange county. (Hank S. Rivera v. Hiep T. Trinh, Case No. 04CC02020. OC Superior Court)
• Joseph Aguilar sued Hiep Trinh for investing his funds in a fraud, Ponzi scheme orchestrated by Concord Capital Enterprises and Scott Yoshizuma. Yoshizuma went to prison. Hiep Trinh was ordered to disgorge $656, 029.97 by the Security and Exchange Commission. He filed for bankruptcy. (Joseph Aguilar v. Hiep Trinh, Case No. 02CC17493, Orange County Superior Court 11/21/2002)
• Hiep Trinh was banned by the United States Office of Thrift Supervision (OTS) from ever associating, working with any financial institutions for stealing bank customer’s money. (OTS order No. SF-01-008, September 7, 2001)
• Hiep Trinh was banned by NASD (National Association of Securities Dealers) from associating with any NASD (now FINRA) members on 05/07/01. (NASD No. C02010024, CRD#2458464). He lost all his investment licenses.
• Hiep Trinh was former partner of Private Equity Management Group that was sued by the Securities and Exchange Commission for fraud on 01/07/2010. (CV 09-2901 PSG US District Court, Central District of California)
His shame:
* With the profits from his stock sales, he threatens to sue any complaining investors to intimidate, to retaliate, and to scare them from going to the authorities. His game plan is to counter-sue, to drag out lawsuits to make anyone who sues him incur huge legal fees and run out of money.
* He warned investors that for every $1, 000, 000 he took in, he put away $100, 000 for future legal fees and would still come out ahead.
* He bragged to his employees that once he had the investors’ money he could do anything he wanted with that money even gamble in Las Vegas. He is known to frequent local casinos, Hawaiian Gardens, Commerce Casino, Hustler…
* He bragged to many people that his money is being hidden overseas in Hong Kong and Europe.
* He told his employees that if he had to sell his mother to make money he would.
* He stabbed his friends in the back. He said his friend Yuri Vanetik was gay and was developing a pornographic web site.
* He retaliated against people who sued him to recover their investments by filing frivolous lawsuits.
* He retaliated against people who sued him to recover their investments by posting false and unsubstantiated complaints and dirty personal attacks on the internet.
* He received commissions for selling stocks of his own companies.
* He sells his own stocks that he got them for free to investors, depriving the companies of needed operating funds.
* He never discloses to investors that he lost investment licenses, is banned by the US Office of Thrift Supervision and FINRA (NASD).
If this man approaches you to sell stocks, please call the California Department of Corporations at [protected] or email at [protected]@corp.ca.gov.
If you are his victims, please call the California Department of Corporations at [protected] or email at jtsai.corp.ca.gov. You might receive your investment money back.
The complaint has been investigated and resolved to the customer’s satisfaction.
