Pacific Proton Therapy
Los Angeles, CA
2010 - 2016
Charles Liu and his wife, Xin Wang, told investors that they planned to build an experimental cancer treatment facility that uses protons instead of x-rays. The couple raised $25 million from 50 investors from 2014 to 2016.
Liu and Wang used the investor’; money to pay themselves hefty salaries and enter into expensive agreements with marketing companies they themselves operated. Wang’s mother was listed as the executive director of one such company and signed a contract with the Regional Center for more than $3 million, despite being unable to read the language of the contract.
No construction has taken place on the proton therapy facility. A federal district court ordered the disgorgement of $26,733,018 in assets from the couple and imposed civil penalties of over $11 million.