"A prominent Orange County philanthropist and well-connected jeweler is now accused of bilking wealthy investors out of millions of dollars and then fleeing the country, according to a series of civil lawsuits filed over the past few months in both state and federal court. Moti Ferder, the co-founder and until recently CEO of Newport Beach-based Lugano Diamonds, is alleged to have defrauded more than 40 creditors out of hundreds of millions of dollars, according to more than a half-dozen lawsuits filed by multiple investors."
"Ferder drew far more positive headlines in 2022 when Lugano Diamonds, then under his control, made a $2.5 million donation to the Orange County Museum of Art. That donation covered a decade worth of admission to the museum, allowing patrons to visit for free. Speaking to a Southern California News Group reporter at the time of the donation, Ferder said he was passionate about art since it opens the mind for opportunities."
Moti Ferder, co-founder and former CEO of Lugano Diamonds, faces multiple civil lawsuits alleging he defrauded more than 40 creditors of hundreds of millions of dollars and fled the country. The lawsuits claim Ferder resigned after an internal investigation revealed accounting, financing and inventory irregularities at Lugano Diamonds, which operates high-end jewelry salons in Newport Beach and seven other cities, including Aspen, Palm Beach and Houston. At least one suit alleges a related federal criminal investigation; FBI officials declined to comment. Ferder and his listed attorney could not be reached. Ferder previously made notable philanthropic gifts, including a $2.5 million museum donation, and supported local schools and nonprofits after moving from Israel in 2005 to build a retail jewelry brand.
Read at www.ocregister.com
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