U.S. Securities and Exchange Commission Litigation Release No. 26421, dated November 19, 2025.
The SEC charged a married couple, Linh Thuy Le and Trong Hoang Luu, for allegedly operating a multi-million dollar Ponzi-like scheme through their company, Inventis Ventures, LLC. They are accused of raising at least $26.6 million from over 1,400 investors by promising guaranteed monthly returns, but instead misappropriated the funds for personal use and to pay earlier investors.
In Plain English
Imagine someone promising you a lot of money back very quickly, like doubling your money in just a few months. They say they'll use your money to invest in exciting new projects. But instead of actually investing, they take your money to pay off other people who invested earlier, or they spend it on themselves. Eventually, when they can't pay everyone, the whole thing falls apart, and people lose their money. That's what the SEC says Linh Thuy Le and Trong Hoang Luu did.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
How the Alleged Scheme Worked
- Promise High Returns Linh Thuy Le and Trong Hoang Luu, through their company Inventis Ventures, LLC, allegedly promised investors guaranteed returns of 15% per month. They also promised the return of the initial investment after one year, requiring a minimum investment of $5,000.
- Varying Investment Stories Le told investors that Inventis would use their funds to invest in 'emerging projects' in its 'investment portfolio.' However, she gave different investors inconsistent descriptions of how the money would be used, ranging from 'real estate' to claims of access to an unnamed bank that supposedly provided 40% returns.
- Misappropriation of Funds Instead of investing the money as promised, Le and Luu allegedly misappropriated the funds. They spent investor money for their personal benefit, paid referral fees to those who brought in new investors, and used funds to make Ponzi-like payments to earlier investors.
- Ponzi-Like Payments Approximately $16.5 million of the investor funds were used to make distribution payments to earlier investors, a hallmark of a Ponzi scheme. Luu signed over 96% of the checks used for these payments.
- Referral Fees Paid The defendants also paid approximately $1.5 million in referral fees to individuals who recruited new investors into the scheme, further incentivizing the fraudulent growth.
- False Assurances Even as the scheme began to collapse and investors stopped receiving payments, Le allegedly continued to make false statements. She claimed that Inventis had to stop payments due to 'bank audits' and 'banking compliance issues'.
- Scheme Collapse Like all Ponzi schemes, Inventis eventually collapsed. Many investors stopped receiving promised interest payments and were never repaid their principal investment.
The Enforcement Action
On October 15, 2025, the SEC filed a civil action against Linh Thuy Le and Trong Hoang Luu for conducting an unregistered offering and Ponzi-like payments through Inventis Ventures, LLC. The SEC seeks permanent injunctions, disgorgement with prejudgment interest, and civil penalties. The U.S. Attorney’s Office for the Central District of California criminally charged Le and Luu in a parallel action.