Former Queen Mary operators charged with fraud after investors lose over $70M
The U.S. Securities and Exchange Commission is looking to bar Taylor Woods and Howard Wu from the securities market entirely.
The former operators of the historic Queen Mary were accused of defrauding investors of tens of millions of dollars through multiple schemes related to investments in and ownership of 13 hotels across the country, including the Long Beach landmark.
The U.S. Securities and Exchange Commission announced Wednesday that it filed securities fraud allegations against Urban Commons co-founders Taylor Woods and Howard Wu, alleging the pair used two schemes to defraud two sets of investors, resulting in over $70 million in losses.
