A Las Vegas couple promised investors eye-popping returns on exotic cars and boats they claimed would be resold to wealthy buyers overseas, but the police now allege these buyers never existed.
According to a 94-page arrest warrant obtained by 8 News Now, Jong Rhee, 45, and Neelufar Rhee, 34, were arrested on May 22, 2025 and are facing dozens of charges for setting up a multi-million dollar fraud scheme that allegedly netted $57 million through their businesses, Twisted Twins Motorsports and Lusso Auto Spa.
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Investigators say the couple pitched investors on luxury vehicles and boats supposedly destined for high-paying clients in countries like Singapore, where import restrictions could supposedly generate enormous profits.
In one case, Jong Rhee told investors a $57 million investment could yield $2.5 billion, but police say there’s no evidence that any overseas buyers were ever contacted.
Among the high-end items involved in the alleged scheme were luxury cars from Bugatti, Rolls-Royce and Porsche, as well as a $3.9 million boat that Jong Rhee said he could sell for $13.5 million.
‘Right now, our lives are on the line’
One of the couple’s extravagant claims allegedly involved a 2024 Rolls-Royce Spectre valued at $526,000. Jong Rhee reportedly told investors that if they bought the car, Rhee could sell it for $7.5 million overseas.
In another instance, the couple took a private jet to Missouri for a boating trip, claiming the vessel would be sold to one of Jong’s international “connections,” but police say the sale never happened.
Detectives believe investor funds were instead used for personal luxuries and travel. The Rhees also attempted to purchase a bar and a home in Lake Havasu, Arizona and allegedly made trips to California using money from investors.
The investigation culminated in an October 2024 search of the couple’s $2-million home in Henderson, Nevada, where officers seized dozens of exotic vehicles. Police also uncovered text messages between the couple that detailed the pressure the Rhees were under due to “mounting debts, delayed payments, and unreliable business partners,” according to 8 News Now.
In a text from April 2025, Jong Rhee reportedly wrote, “We r [sic] big trouble money.” Another message allegedly read, “Right now, our lives are on the line.”
By mid-2024, police say the couple became so desperate that Jong gambled their last $10,000 at the World Series of Poker, hoping for a big win to solve their financial troubles.
“Jong frequently gambled and played poker,” police wrote in the arrest warrant, adding that he often entered high-stakes tournaments that further strained the couple’s finances.
The Rhees are reportedly facing 78 charges that include money laundering, racketeering and forgery, 8 News Now reports.
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How to protect yourself from investment scams
With fraudulent investment schemes on the rise, it’s important to keep an eye out for any potential red flags when someone is attempting to talk you into an investment.
For one, be skeptical if the salesperson asks for secrecy, or if they ask you to bring people you know into the investment. A legitimate professional won’t ask you to keep secrets, nor will they request you to recruit additional investors.
You should also watch out for investing in unregistered products or assets. Scammers might say an investment is exempt from registration, which, even if true, means the risks are much higher. Bad actors who operate outside industry rules and regulations are behind many financial scams, so make sure the seller of an investment product is also registered and legitimate.
Like with most things, if it sounds too good to be true, it probably is. Make sure you protect your money by using some of the FBI’s tips to avoid getting scammed:
- Before you dive into an investment opportunity, do your own research and don’t just rely on the information that the salesperson provided for you.
- There’s never a need to rush. If you’re being pressured into an investment or told not to discuss a potential investment with others, that could be a red flag.
- There is never a guaranteed return on investment (ROI). All investments include some level of risk, so be weary of anyone who promises a guaranteed ROI.
- Don’t respond to cold calls, text messages, emails or any other unsolicited contact that is either overly attractive or induces fear.
It’s not certain how many people were defrauded in the Las Vegas scheme, since some of the court records remain redacted. However, two other individuals — Crisfin Deguzman and John Baudhuin — are also facing charges related to the case.
As for the Rhees, they’ve posted $100,000 bail and were due back in court June 9, 2025.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
