Japanese investors filed a class-action lawsuit seeking damages from Las Vegas-based asset manager MRI International Inc. on July 5, according to U.S. court documents.
Attorneys for five Japanese investors filed the lawsuit in the U.S. District Court of Nevada on behalf of all who lost money in what the documents allege was a Ponzi scheme.
In April, the Japanese Securities and Exchange Surveillance Committee started an investigation into allegations that MRI International lied to investors and mishandled up to ¥130 billion in funds collected from about 8,700 clients.