To protect the privacy of those involved, all victim names used in this story are pseudonyms.
Two Los Angeles residents allege they were scammed by a woman named Eileen Lu, who operated a private currency exchange scheme and manipulated personal relationships before fleeing to China with large sums of money in March.
A woman from Walnut, California, is under public scrutiny after allegedly defrauding several members of the local Chinese-American community through an underground currency exchange operation and personal manipulation. Victims say the woman, identified as Eileen Lu (Lu Yiling), fled to China on March 23, after collecting large sums of money through informal transactions.
Angela Wang, one of the first victims to speak out on RedNote, said she was introduced to Lu by a mutual friend. “A friend introduced me to her because I needed to convert RMB to USD quickly due to China’s remittance limits,” Wang said. “We did three small exchanges first, each under $20,000. Everything went smoothly, so I trusted her.”
Wang said she had known Lu for about six months and that their previous transactions had built a level of trust. In early March, Lu allegedly contacted Wang again, this time asking for help exchanging $80,000. Wang said Lu sent $20,000 that night and promised to send the remaining amount the next morning after going to the bank.
“Because the previous three transactions went so smoothly, I trusted her and transferred the money without hesitation,” Wang said. However, the remaining funds never arrived.
Wang later learned that Lu had boarded a flight on March 23 and blocked her on all platforms. “That’s when I knew I had been scammed,” Wang said.
Michael Zhang, who described himself as Lu’s business partner and romantic partner, also claims to be a victim. “She told people I was her boyfriend,” he said.
“Now I realize she may have approached me from the beginning with an agenda to set up a long-term scam.” Zhang said Lu repeatedly borrowed money from him under various excuses, in amounts ranging from $10,000 to $30,000.
“Because of our relationship, I never asked her to pay it back,” he said. “She even stole cash from my house before leaving.”
Zhang also confirmed that Lu emptied their shared company’s operating account before vanishing. “I lost both money and trust,” he added.
According to a January article in the World Journal, private currency exchange practices within Chinese immigrant communities often operate outside legal oversight, making them particularly risky and leaving victims with limited legal recourse when fraud occurs.
In the United States, operating an unlicensed currency exchange service or engaging in informal money transfers can violate both federal and state laws (Cooley,2024).
Serious legal consequences may follow, including civil penalties and even criminal charges. Experts advise that anyone involved in such transactions consult a legal professional and ensure they comply with applicable regulations.
As of now, Lu’s whereabouts remain unknown. Additional individuals have come forward with similar claims against Lu, suggesting that the scope of the alleged scam may be wider than initially believed. The situation remains under active discussion and review within the community, though no official charges or arrests have been made at this time.
Victims are organizing online, sharing evidence and testimonies, and some are preparing to take collective legal action. Community members hope their stories will raise awareness and prevent similar incidents from happening again.