Couple charged in alleged $2 billion luxury car scheme gamble last $10,000 at WSOP
Don't know who these people are but maybe those frequented games where Jong Rhee played know more about him.
LAS VEGAS (KLAS) — A couple told investors they could net billions of dollars by selling luxury cars and boats to overseas buyers who police suspect never existed, according to documents the 8 News Now Investigators obtained.
The revelations come from a 94-page arrest warrant for Jong Rhee, 45, and Neelufar Rhee, 34 — who Las Vegas Metro police took into custody on May 22. Each faces dozens of charges for allegedly persuading people to invest in the luxury items, saying “the assets would be resold to overseas buyers at massive profit margins,” police said. However, detectives suspect no buyer ever existed.
Jong Rhee allegedly promised investors that he could make money in the scheme to “acquire high-value, exotic cars.” “Wealthy clients in Singapore” would then buy the cars, delivering a $2.5 billion profit off of a $57 million investment because of that country’s “import restrictions,” police said.
The couple conducted the alleged fraud scheme through two of their businesses: Twisted Twins Motorsports and Lusso Auto Spa, police said. State business records indicate that the Rhees are associated with businesses in Las Vegas and Henderson.
Metro detectives suspect the couple netted $57 million “for purchasing seven high-value motor vehicles by materially fraudulent misrepresentation,” documents said. In all, detectives list dozens of high-end and exotic cars and boats as part of the investigation, including models from Bugatti, Porsche and Rolls-Royce.
One investor was allegedly promised a hefty return on an investment from the overseas purchases, documents said. Records show Jong Rhee “never contacted anyone to sell [the vehicles in question] for $2 billion,” documents said.
In one case involving a 2024 Rolls-Royce Spectre, Jong Rhee said he could receive $7.5 million for the vehicle with a value of $526,000, documents said. Another involving a $3.9 million boat involved a $13.5 million Singaporean purchase.
6 Replies
wheres the part of him gambling at wsop???
Thats some crazy bluff line he took tho, 2.5b rofl why oh why would you go so high
wheres the part of him gambling at wsop???
Thats some crazy bluff line he took tho, 2.5b rofl why oh why would you go so high
Read the news story ?
"The couple became “so desperate for money” in 2024 that Jong Rhee bet their last $10,000 to gamble in the World Series of Poker, police said."
Lmao the mentality it takes of being completely cash broke sans 10k in Vegas and your get rich comeup plan is to play a high variance 8 day poker tournament
How else are you gonna win 8 million? Buy 10,000 lottery tickets?
You think variance was considered? The acquisition is was higher variation if total cost considered.
Lmao the mentality it takes of being completely cash broke sans 10k in Vegas and your get rich comeup plan is to play a high variance 8 day poker tournament
I have a memory of some guy doing precisely that during the ESPN coverage in the mid-2000s. Granted, I think it was a recent college grad rather than a middle-aged married person, but he had used every dollar he had to play the ME, then run it up into money to get him started in life. There was even a brief exit interview showing him as he exited the room with a stack of Benjamins in his hand.
So many people, including many 2+2ers, long for the days when ESPN/441 covered the WSOP because they focused on human interest stories. If they had existed in a different era, the Rhees could have been the Bob & Maureen Feduniak of the annual telecasts – some rando couple that we're supposed to root for. When Jong inevitably gets all-in in some AK vs TT coin flip, Norm would chime in with his "kid and a dream" line.
How much did they owe? Let me check something...
Ah, so close.
