Inventis Ventures Executives Sued by U.S. Regulator Over $26.5 Million Ponzi-Like Scheme

The U.S. Securities and Exchange Commission (SEC) has charged executives of Inventis Ventures—California couple Linh Thuy Le and Trong Hoang Luu—in connection with a $26.5 million Ponzi-like scheme. The couple allegedly promoted a fraudulent investment program to over 1,400 investors, promising monthly returns of up to 15%.

The complaint filed in the U.S. District Court for the Central District of California states that Le and Luu marketed so-called “guaranteed high return” investment schemes targeting Vietnamese and Latino communities through two entities: Inventis Ventures, LLC and Inventis Ventures Holding, Inc.

Between March 2022 and September 2023, Le and Luu allegedly raised at least $26.5 million from 1,400 individuals using unregistered securities services. Given that many investments and payments involved cash, the actual number of affected individuals and total amount may be higher.

Investors were told they needed to deposit at least $5,000 to receive monthly returns of 15% or annual returns of 360%. Regarding the specific investment destinations, the defendants mentioned real estate, health insurance, and a bank purportedly offering a 40% return. Additionally, the defendants and their employees assured investors that their funds were “safe.”

However, according to the SEC investigation, Le and Luu did not use the money for investments but instead diverted it for personal benefit. They also used investor funds to pay referral fees and made payments to early investors.

Regulators stated in the complaint that Luu signed 95% of checks issued by Inventis, with over 96% of those funds used to cover monthly distribution payments of about $16.5 million and referral fees totaling approximately $1.5 million.

According to the SEC, Inventis collapsed around September 2023, leading to bounced checks and halted payments. Nevertheless, Le and Luu purportedly continued soliciting new investors with misleading statements, attributing payment delays to bank audits and banking compliance issues. After their scheme was exposed, the couple redirected investors to other ventures, including Apex Bank—which had been ordered to cease operations—and Trage Technologies, Ltd., which faced securities violations lawsuits.

These allegations remain unproven in court, and Le and Luu retain the opportunity to respond.

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