Oil Tank Scam Cost Immigrants $97M — What to Know

Seattle Man Sentenced for $97M Investment Fraud Targeting Global Victims

Geoffrey K. Auyeung, a 47-year-old man from Newcastle, Washington, was sentenced on June 9, 2026 to five years in federal prison. He pleaded guilty to conspiracy to commit money laundering (a crime where someone moves stolen money to hide where it came from). He must also give up approximately $10 million in assets.

Auyeung helped run a scam that tricked investors — including people from outside the United States — into sending money to fake "escrow accounts" (accounts that are supposed to safely hold funds during a deal). The scammers told victims they were buying oil tank storage in Rotterdam, Netherlands, or Houston, Texas. They promised big profits from renting that storage to others. Between June 2022 and July 2024, those accounts received $97.1 million in wire transfers and deposits. Victims never received any updates on their investment, and the scammers simply stopped responding.

Auyeung opened at least 81 bank accounts at 24 different financial institutions and 19 accounts on eight cryptocurrency exchanges. Much of the money was moved offshore or converted to cryptocurrency and sent to accounts controlled by people in Nigeria and Russia. Even after Auyeung was indicted (formally charged) and arrested, he continued to secretly communicate with co-conspirators and funnel money — this time through his wife's bank accounts. Between August 2024 and December 2025, he accepted an additional $400,000 in commissions that way. U.S. District Judge John C. Coughenour said the sentence was driven by "the scope and magnitude of this fraud." One victim flew from the United Kingdom just to face Auyeung in court and said, "You caused a lot of pain."

Why This Matters for Immigrants

Acting HSI Seattle Special Agent in Charge April Miller noted that victims were "not just Americans, but people all around the world." Immigrants and international investors are often targeted by these types of scams because they may be less familiar with U.S. financial rules, may trust promises of quick profits, or may be afraid to report fraud to authorities. Losing large sums of money to fraud can also affect an immigrant's financial stability — which can in turn affect visa applications, green card eligibility, or the ability to pay for legal help in immigration court.

What to Do

• Be skeptical of investment offers that promise high returns from oil, gas, or storage rentals — especially if someone asks you to wire money to an "escrow account" you cannot verify.
• Check any company or investment opportunity with the U.S. Securities and Exchange Commission (SEC) at sec.gov or your state's financial regulator before sending money.
• If you were a victim of this or a similar scam, report it to the FBI's Internet Crime Complaint Center at ic3.gov or contact Homeland Security Investigations (HSI) at tips.hsi.gov. Reporting does not automatically trigger immigration enforcement.
• If you lost money and it is affecting your immigration case, lawyers recommend speaking with both a financial crimes attorney and an immigration lawyer to understand your options.