U.S. Department
of Justice
United States vs. Derek Vincent Chu
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Case Number: 23-cr-122-TLT
On April 26, 2023, a federal grand jury indicted Derek Vincent Chu, charging him with crimes related to an alleged $39 million Ponzi scheme involving over 100 victims. According to the indictment, between late 2013 and 2020, Chu, 41, of Alamo, Calif., used several companies to raise $39 million by fraudulently soliciting investments in the purchase and resale of professional basketball tickets and luxury suites at Oracle Arena, in Oakland, California; the Staples Center, in Los Angeles, California; and the Chase Center, in San Francisco, California.
The indictment charges Chu with eight counts of wire fraud, in violation of 18 U.S.C. §§ 1343 and 2, and three counts of money laundering, in violation of 18 U.S.C. §§ 1957 and 2.
If you believe you have been a victim of the schemes described above, and you wish to provide information to law enforcement and/or receive notice of future developments in the case or additional information, please email your name and telephone number to [email protected].
Press Release(s)
East Bay Man Charged with Running $39 Million Ponzi Scheme
Publicly Available Court Documents
Court Events and Filings
|
Date |
Event |
|---|---|
|
4/26/2023 |
Indictment as to Derek Vincent Chu Filed |
|
5/2/2023 |
First Court Appearance as to Derek Vincent Chu held |
|
5/2/2023 |
Order for Release from Federal Custody pending trial signed by Magistrate Judge |
|
7/24/2023 |
Defendant Derek Vincent Chu present in Court with designated attorney; Arraignment on all charges held, Derek Vincent Chu pleads not guilty |
|
8/25/2023 |
Status Conference as to Derek Vincent Chu held. The Court admonishes the defendant of the terms and conditions of his out-of-custody status, and any further violations may result in being taken into custody. 1 terabyte hard drive of discovery is provided to defense counsel in open court. |
|
11/17/2023 |
Status Conference as to Derek Vincent Chu held via Zoom Webinar. The government provided the defendant with 95 percent of the discovery, defendant is in the early stages of review. The judge declared the case complex. |
|
1/26/2024 |
Status Conference as to Derek Vincent Chu held on via Zoom Webinar. The Government has provided approximately 99% of discovery with one more group left to provide. The defendant continues to review it and requires time to do so. |
Next Court Date
A status hearing is scheduled with Judge Trina Thompson on March 29, 2024 at 8:30 AM via Zoom Webinar. Access can be found on the Court’s website: https://www.cand.uscourts.gov/judges/trina-l-thompson-tlt/
Victim Notification System (VNS)
Please take note that we utilize the Department of Justice’s Victim Notification System (VNS) to share updates regarding the case. Your e-mail address must be verified in our system to receive full text notifications. If you are unable to locate your Victim ID and PIN to log in to VNS, please e-mail [email protected] with the subject line “Need VIN and PIN”. We also encourage you to check your e-mail spam/junk folder to search for messages from [email protected].
General Information
U.S Attorney’s Office – NDCA Victim-Witness Pamphlet
U.S Attorney’s Office – NDCA Victim-Witness Pamphlet Chinese
The Victim Notification System (VNS)
Victims and Witnesses: Understanding Your Rights and the Federal Court System
Investment Fraud: Victim Recovery Checklist
Civil Justice for Victims of Crime
Resources
Victims of financial crime may experience varying degrees of emotional trauma after a financial crime is discovered. You may feel some or all the following:
- Anger, resentment, or a sense of betrayal toward an offender.
- Frustration with criminal justice professionals, or at the delay in the investigation or prosecution.
- Embarrassment, depression, guilt, and difficulty trusting others.
- Fear for your financial security and ability to provide for your family.
It is important to realize that these are normal reactions to a crime. Some victims find it helpful to seek the services of a counseling professional, clergy member, or advocacy organization. Please contact the Victim Specialist assigned to your case at [email protected] for help in locating services, if needed.
Legal Referrals
Legal Assistance to the Elderly (LAE): Mission is to protect and advance the right of San Francisco’s seniors and adults with disabilities to be housed, healthy, financially stable, and safe; provides free full-scope representation to elderly and disabled residents, many on limited incomes, who urgently need help; Languages: Spanish, Cantonese, Mandarin, Russian, and Korean
Website: laesf.org
Tel: (415) 538-3333
The Bar Association of San Francisco: Free or reduced cost legal services are available to those who qualify; services available in the areas of family law, eviction defense, debt, tax issues, and more.
Website: sfbar.org/lris
Tel: (415) 989-1616
(Hours 9:00 a.m. – 1:00 p.m.; 1:30 p.m. - 5:00 p.m. PST, M-F)
The National Crime Victim Bar Association: For victims of a crime that are interested in receiving a referral for a civil attorney; maintains a nationwide network of attorneys who are dedicated to helping victims of crime rebuild their lives through the Civil Justice system.
Website: victimbar.org/attorney-referral-request-form
Mental Health/Counseling Referrals
Richmond Area Multi-Services (RAMS): A nonprofit mental health agency with an emphasis on serving Asian & Pacific Islander Americans; provides therapy, psychiatry, crisis services, and other services to adults, families, and other populations; services offered in multiple languages; located in the Richmond District of San Francisco.
Website: ramsinc.org
Tel: (415) 800-0699
The Liberation Institute: Clinic with a sliding scale based on income, providing teletherapy (via phone or Internet) and in-person therapy for adults, youth, children, families, and groups; no one turned away due to lack of funds; has a large and diverse selection of therapists, including licensed therapists and doctoral interns; has two locations in San Francisco (in the Mission and SoMa)
Website: liberationinstitute.org
Tel: (415) 606-5296 extension 102
Open Path Collective: Nationwide organization providing low-fee (between $40 and $70) in-person therapy and teletherapy for uninsured or under-insured clients who can't afford standard out-of-pocket costs for therapy; first-time clients register and pay a one-time lifetime membership fee; database searchable by language, therapist race, specialty, and other factors.
Website: openpathcollective.org
Psychology Today Therapist Finder: A national database that can be searched by location, cultural specialty, language, religion, and other criteria.
Website: psychologytoday.com/us/therapists
Contact Information
If you have questions or wish to discuss this case with the designated Victim Specialist, please request to schedule a telephone call by emailing [email protected]. Please provide your name, telephone number and best time to reach you. If you require the assistance of an interpreter, please identify your preferred language.