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Congresswoman Nydia Velazquez

Representing the 7th District of New York


MONDAY: Velazquez to Host Workshop on Avoiding “Bao Hui” Loan Scams

MONDAY: Velázquez to Host Workshop on Avoiding “Bao Hui” Loan Scams
July 28, 2017
Press Release

Washington, DC –Rep. Nydia M. Velázquez (D-NY) is partnering with local community leaders and representatives from the New York Police Department (NYPD) and the Brooklyn District Attorney’s Office to host a workshop regarding “underground loan” scams that are prevalent in New York’s Chinese American community.  

The event comes after the recent collapse of a “Biao Hui” or underground lending club in New York. Losses totaled more than $20 million for an estimated 780 investors, marking it one of the largest such losses in recent memory. 

The event will provide educational information on avoiding these scams and on legitimate, stable investment products that are available in the community.  

WHO:             Rep.  Nydia M. Velázquez 
                       John Chan, Asian American Community Empowerment
                       Emmanuel Gonzalez, NYPD, 72nd Precinct
                       Kin Ng, Brooklyn District Attorney’s Office 
                       Joseph Lin, Asian Americans for Equality
                       Kai Cai, JP Morgan Chase
WHAT:          Workshop on Financial Practices and Avoiding Biao Hui Scams
WHEN:          Monday, July 31st, 1:00 p.m.

WHERE:       618 62nd Street
                      ​Sunset Park, Brooklyn, NY






參與者:   國會議員  維樂貴絲
         美國亞裔社團聯合總會  陳善莊
         紐約警察局第72分局   Emmanuel Gonzalez    
         布魯克林地區檢察官辦公室  吳建宏
         亞洲人平等會  林凱翔
          摩根大通銀行   Kai Cai