Two former investment executives arrested in Japan were sentenced Tuesday to five years in a U.S. prison for their roles in what federal authorities called a $1.5 billion international Ponzi scheme with 10,000 victims in the U.S. and abroad.
Junzo Suzuki and his son, Paul Suzuki, apologized to the judge, their family and their victims before each was sentenced in U.S. District Court in Las Vegas to five years in prison and three years of supervised release, according to court records and their attorney, Richard Wright.
The father-son defendants pleaded guilty in January to one count of wire fraud and avoided trial on 15 federal fraud charges. Prosecutors have compared the case involving Las Vegas-based MRI International Inc. with the biggest-ever U.S. fraud cases.
U.S. District Judge Gloria Navarro scheduled a June 28 hearing at which the government, defense attorneys and lawyers for victims will focus on a possible $141 million in restitution.
Junzo Suzuki, 73, has been a legal permanent resident of the U.S. but will face deportation following his prison term, according to court documents. He has multiple health issues and has been on pretrial release since April 2020 due to the potential exposure to COVID-19 behind bars. He is due to surrender for prison July 8.
Paul Suzuki, 43, is a U.S. citizen, but has been in custody since the two men were arrested in Japan in January 2019. Navarro said he can be allowed to live with family in Japan while he serves his three…
