The couple convinced victims to invest in exotic cars that would supposedly be flipped overseas.
Jong Rhee claimed to have “wealthy clients in Singapore” willing to splash billions of dollars.
Dozens of vehicles were seized, including a Bugatti Divo and an Apollo Intensa Emozione.
It’s not every day you hear about a multimillion-dollar fraud ring fueled by promises of luxury yachts and Bugattis, but then again, this is Las Vegas.
Police in Las Vegas have arrested a couple accused of operating a fraud operation that has netted them over $57 million, to purchase some of the finest exotics on the planet. The couple, 45-year-old Jong Rhee and 34-year-old Neelufar Rhee, are accused of tricking victims through their businesses, Twisted Twins Motorsports and Lusso Auto Spa.
An extensive investigation from the Las Vegas Metropolitan Police Department, LAPD, Pennsylvania State Police, the FBI, and other agencies revealed that the couple convinced the victims to invest in exotic cars and boats after promising that they could be flipped for huge profits to international buyers.
Big Promises, Bigger Lies
Jong Rhee told investors they could net part of a $2.5 billion profit from “wealthy clients in Singapore” who would purchase the cars. In one case, Rhee said he could sell a Rolls-Royce Spectre, worth $526,000 in the US, overseas for $7.5 million. He also said a $3.9 million boat could be sold in Singapore for $13.5 million. But, as it turns out, none of these promised overseas clients actually existed.
The couple allegedly used the funds to purchase several expensive items. These include a 2,500 hp MTI V boat, a Bugatti Chiron Super Sport, a black carbon fiber Bugatti Divo, a custom Pagani Huayra, and even an Apollo Intensa Emozione, one of just 10 examples worldwide. Police have seized all of these vehicles, among dozens of others.
Red Flags and Supercars
A former contractor who claims to have worked with several of the couple’s ventures told The Drive he wasn’t shocked by the arrests. “The Rhee family strikes again,” he told the publication after seeing the news online. He recalled Jong as “flashy and calculated,” often parking supercars in high-traffic areas to bait both clients and marks. “Sometimes, they were the same,” he added.
Speaking on condition of anonymity, he said their paths crossed after stopping to admire one of those cars, which he now realizes was strategically parked to catch attention. Jong struck up a conversation and quickly offered him a job. “I was in between W2 jobs,” he recalled. That gig led him through a series of Rhee-backed ventures, including Twisted Twins Motorsports, Lusso Auto Spa, the now-closed 8 Kitchen in Henderson, and a boutique home audio company aimed at luxury clients.
Mounting Debt and a Poker Bet
Authorities have charged both Jong and Neelufar Rhee with more than 75 counts tied to fraud, including racketeering, forgery, theft, and money laundering.
KLAS reports that money issues led to the fraudulent activities. The couple “were under intense pressure due to mounting debts, delayed payments, and unreliable business partners.” Last year, they were so desperate for money that Jong Rhee bet their last $10,000 to participate in the World Series of Poker.
Both have posted $100,000 bail and are currently out of custody. Local authorities are asking anyone who had dealings with the couple to come forward.
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