San Francisco Chronicle/Hearst N/San Francisco Chronicle via Gett A San Francisco Bay Area man was indicted Wednesday for allegedly defrauding over 100 people of $39 million by conning them to invest in a bogus business reselling NBA tickets, federal prosecutors said.Derek Vincent Chu, 41, of Alamo, ran the Ponzi scheme between late 2013 and 2020, asking investors to put their money towards a plan to buy and resell tickets and luxury suites at Oracle Arena in Oakland, the Staples Center in Los Angeles and the Chase Center in San Francisco, U.S. Attorney's Office with the Northern District of California said in a news release.
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