Foxconn executive, wife pay quarter-million dollars to man in home purchase scam [View all]

A Foxconn executive and his wife in the process of purchasing a home paid more than a quarter-million dollars to a man posing as a representative of a Racine title company, according to court records.

Alan S. Yeung, Foxconn director of U.S. strategic initiatives, and his wife, Stella F. Chan, thought they had wired $260,146.93 to Landmark Title of Racine Inc., according to an affidavit for a search warrant filed in Milwaukee County Circuit Court.

The couple had been communicating via email with someone they thought was a representative of the firm when they wired the payment on Feb. 7 at the Wells Fargo Bank branch at 100 E. Wisconsin Ave., according to the affidavit.

It wasn't until after the transaction was complete that the couple learned the emails had not been coming from the title company but instead someone posing as a representative using a similar-looking email address, according to the document.

Read more: https://www.jsonline.com/story/news/local/wisconsin/2019/05/01/foxconn-executive-wife-pay-quarter-million-dollars-home-purchase-scam/3643163002/