Victims list grows in fraud case involving 'Pinoy Bernie Madoff'

By Balitang America Staff, ABS-CBN North America Bureau

Feb. 19, 2014

REDWOOD CITY, Calif. – More victims have surfaced in massive fraud case spanning that spans three decades and involves a Filipino businessman from California.

Eminiano Jun Reodica, 69, once owned one of the largest car dealerships in the US. Today he’s accused of committing fraud amounting to $70 million.

US authorities have filed a 51-count indictment against Reodica that alleges bank fraud and false statements on loan applications for more than 30 years.

His trial is set for Aug. 19 in Los Angeles and he faces up to 30 years in prison, if convicted.

Tagged as the Brisbane Bernie Madoff, Reodica fled the US and moved to Australia in the 1990s under the name Roberto Cosco-Lluela.

Recent further probes show that he also allegedly defrauded up to 500 Australian families.

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