FBI warns of wire fraud suspect

By Christie Wilson
Neighbor Island Editor

The FBI took the unusual step yesterday of issuing a public warning about a Maui man suspected of wire fraud involving phony investments.

The agency is investigating a "handful" of complaints against John L. Cerizo, but there could be more than 75 potential victims, said

FBI spokesman Arnold Laanui.

Laanui would not release details, but a lawsuit filed in February in Maui Circuit Court claims Cerizo bilked a couple out of $615,000 by promising a low-risk, high-yield investment.

Cerizo could not be contacted yesterday. His phone had been disconnected.

The FBI normally does not release information about ongoing cases or about suspects who have not been arrested or charged, but Laanui said the agency felt it was important to warn the public about the situation and to seek out others who may have lost money to Cerizo or his companies, CT International and Cornerstone Overseas LTD.

The state securities registration office reports Cerizo is not registered as an investment dealer, and the securities enforcement office reports it had received no complaints about him.

The Maui lawsuit filed on behalf of Herbert and Christine Ushiroda said Cerizo and his wife, Janeth, persuaded the couple in 2000 and 2001 to make several payments for an overseas investment program. They were told that their money would be held in an account with the Hong Kong & Shanghai Banking Corp. and that they were guaranteed at least 5 percent monthly interest.

The Ushirodas said that when they didn't receive a bank statement, they contacted the bank last December and discovered the account didn't exist.

The Cerizos failed to respond to the lawsuit, and on Wednesday a Maui judge granted a default judgment against them.

The FBI asks anyone who lost money through dealings with Cerizo to call the agency on Maui at (808) 242-4849 or in Honolulu at (808) 566-4300.

Reach Christie Wilson at cwilson@honoluluadvertiser.com or 244-4880.