Serena Shi Ruixue, 38, has been sentenced to 20 years in US federal prison for swindling investors out of at least US$26 million. Photo: Twitter
Serena Shi Ruixue, 38, has been sentenced to 20 years in US federal prison for swindling investors out of at least US$26 million. Photo: Twitter

US-based woman who swindled Chinese investors out of more than US$26 million jailed for 20 years

  • Serena Shi Ruixue solicited investments, mainly from Chinese investors, in a 207-unit luxury complex to be built near Los Angeles
  • In reality, she spent much of the money on luxury cars, travel, clothing, dining and shopping, including US$800,000 at a ‘full-service styling agency’

Serena Shi Ruixue, 38, has been sentenced to 20 years in US federal prison for swindling investors out of at least US$26 million. Photo: Twitter
Serena Shi Ruixue, 38, has been sentenced to 20 years in US federal prison for swindling investors out of at least US$26 million. Photo: Twitter
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