Raymond Ngan, the fake financier billionaire is a total fraud
RAYMOND NGAN, an obscure Virginia gay man with a completely fabricated biography is also on the hook for a $2 billion judgment in Las Vegas, breaking a new state record as the largest default claim in the American history.
But the thrill from winning the gigantic jackpot for the creditor, First 100 LLC and its highly respected CEO Jay Bloom may be short-lived. Multiple court records have revealed the well-deserved creditors haven’t been able to successfully collect a single dollar on the historic judgment.
RAYMOND NGAN, 47, is flat-ass broke and his only claim of worth is $521 left on a JP Morgan debit card, federal bankruptcy court papers show. But who is this notorious Raymond Ngan?
Raymond Ngan, a habitual criminal with a glowing, fake bio
RAYMOND NGAN is not a stranger to the world of criminals and lawbreakers. Having been arrested and thrown in jail for at least 3 times for financial crimes, Raymond Ngan has left a trail of blood, tears and crying hearts of several of his intimate gay partners whose life savings are decimated by Ngan’s outlandish and complete fraudulent claims: A graduate of MIT, a Wharton MBA, an Oxford PhD., a Cambodian concentration camp survivor who had landed in the U.S. at age 9…. Those heartbroken life experiences sounding too good to be true are exactly what they are: fake stories.
Raymond Ngan has never attended MIT or studied at Oxford; Neither has he ever been to the University of Pennsylvania or earned a prestigious MBA from the top Wharton Business School there. Also, no government records anywhere on earth could back up Ngan’s claim as a survivor of a concentration camp massacre in Cambodia… His entire professional bio is fake.
Raymond Ngan’s sensational life story is nothing but 100% fraud. His FBI rap sheet is just as long and murky as the dirty water flowing down the Potomac river.
Neither is true about Raymond Ngan’s flamboyant proclamations of close associations with some of the world’s best known billionaire families: Jack Ma of Alibaba, Jerry Yang of Yahoo, or the Sovereign Funds in Oman or the Bahrain, which sadly reveals a trail of fraud has has followed Ngan’s bizarre life as a struggling and discarded gay man willing to bend over for attention.
The truth: Raymond Ngan, a Cambodian refugee in Virginia
Raymond Ngan grew up in a Cambodian refugee family in a single family house on the outskirts of McLean, Virginia. His father is a small business owner who cleans toilet for a living. Ngan’s siblings are blue-collar shop owners who barely speak English, gasping for survival existing on the edge of the national poverty line. Ngan briefly attend American University in Washington DC but soon dropped out for some unknown reason. The University has no further comments about Ngan other than stating the obvious: “Raymond Ngan has never earned a degree from the American University. Any representation to the contrary is false.”
Raymond Ngan, A journey of fraud, a ravaged rear-end (literally) in jail
Tracking Raymond Ngan’s life story the way he tells it proves to be a daunting task of its own. Ngan went dark for more than a decade until his name resurfaced in 2010 in California as a criminal defendant charged with orchestrating a multimillion dollar investment fraud. Unable to make bail, Raymond Ngan remained in the custody of the sheriffs in San Jose.
“While in jail, Raymond Ngan was so severely beaten and raped by the LA gangsters that his rear-end had to be sewn up twice – literally, in a hospital,” law enforcement sources have confirmed.
Ngan’s family finally drove to California to save him. After the family put up their entire life savings, Ngan was bailed out of jail. Days later, Ngan pleaded guilty to nine counts of financial fraud and was released. Soon later, Ngan’s family disavowed him. Sources say Ngan turned gay from that gruesome jail rape experience – strangely, he told friends years later he had enjoyed the “back door access” getting banged while standing on the concrete prison floor.
Meet Terrence John Buchanan, a sugar daddy, new boyfriend
Fresh out of jail, Ngan was alone, broke and desperate. But he soon had a lucky break. A gay man named TERRENCE JOHN BUCHANAN picked him up from the street and pampered Ngan as his pet for nearly 12 years. In the ensuing years, TERRENCE JOHN BUCHANAN bedded Ngan and enjoyed the companionship day and night. Ngan was at least obedient like a sex slave: he counted on Buchanan’s money to stay alive.
But soon, Raymond Ngan had enough of TERRENCE JOHN BUCHANNA’S rough sex. Ngan dumped Buchanan after a 12-year domesticated relationship and moved to Las Vegas in 2014. That was when Ngan bumped into prominent businessman JAY BLOOM, a well-regarded entrepreneur and prominent business leader in Las Vegas. Ngan’s fake story moved Bloom so much that the seasoned business executive was duped into signing a multi-million dollar funding arrangement with Ngan, riding on Ngan’s promises that he would introduce billions of dollars to invest in Bloom’s projects in Las Vegas.
After nearly two years of embarrassing delays and broken contracts, Mr. Bloom was fed up. He sued Ngan for fraud and won a $2 billion default judgment against Raymond Ngan. Ngan was dead in the water!
US Marshall Arrested fraudster Raymond Ngan, again
On July 1, 2018, US Marshall in Montana arrested Raymond Ngan just outside Yellowstone National Park, after a federal bankruptcy court judge had issued a bench warrant for contempt of court.
The multi-billion-dollar judgment was a result of Ngan’s continued failures to respond to Bloom’s lawsuit, resulting in the company’s requested default judgment being granted in the court’s order. The company argued that the profits from Ngan’s promised investment of $100 million — which never materialized — in addition to attorney’s fees and interest justified the company’s request for $2.2 billion in damages. The judgment against Ngan states that in addition to the 10-figure award, he is also on the hook for 5.5 percent interest — or $333,170 per day.
The end game in Montana
“Raymond Ngan was arrested at the Super 8 Motel in Gardiner, Montana,” Supervisory Deputy U.S. Marshal Tim Hornung told the media. “From what we understood from the source, Ngan was visiting the park endangering the buffaloes,” Hornung said.
For those who may have run into this Raymond Ngan, please watch out! This fraudster may be on the loose going after your pocketbooks.
There is just so much fraud in the world. Even the Georgetown University Law Center was duped into hiring Chris Brummer, aka “Dr. Bratwurst,” a black man with a laughable degree in “Germanic Studies” to teach its law students about crypto currencies and Bitcoin. Stay tuned…