Sang Phuoc Do Le, a resident of Oceanside, has been charged in federal court with operating an investment fraud scheme that allegedly funded his gambling activities and purchases of luxury vehicles. According to the indictment, Le claimed to run two businesses—MobileSky and MobileSky2—that bought Apple iPhones in bulk for resale overseas. However, authorities allege these companies did not conduct such business.
Prosecutors state that Le used the “MobileSky” name, which belonged to another individual in Northern California, as part of his scheme. The complaint alleges that Le convinced investors to provide funds by making false claims about holding an Apple Reseller Agreement and securing large purchase orders for iPhones intended for foreign markets such as China.
The indictment details how Le provided falsified receipts to investors and assured them of significant outstanding purchase orders from Apple worth over $1 million. Instead of using investor money for legitimate business purposes, it is alleged that Le diverted the funds for personal use—including gambling and buying luxury cars—and made payments to earlier investors using new investments in a Ponzi-like fashion.
Records obtained by FBI agents show substantial cash deposits at casinos across California, Arizona, Nevada, and Florida. In some instances, investors wired money directly to casinos at Le’s direction; those funds were then used for gambling rather than purchasing electronics.
Le reportedly received wire transfers totaling hundreds of thousands of dollars from investors but instead withdrew large sums in cash or transferred money to car dealerships such as West Coast Exotic Cars and Fusion Luxury Motors. Witnesses said he purchased luxury vehicles including a green Lamborghini with these funds.
Despite failing to pay promised returns or principal back to many investors, Le continued soliciting new investments by offering fixed-rate monthly returns—sometimes as high as 17 percent—and treating potential clients to expensive dinners or trips. Some were persuaded after observing his lavish spending habits at Las Vegas casinos.
Le told some investors he used casinos like banks when explaining why they should wire money there on his behalf; however, casino records indicated he sustained significant losses during this period. At his arraignment today before U.S. Magistrate Judge Jill Burkhardt, Le pleaded not guilty to all charges listed in the indictment.
A motion hearing and trial setting are scheduled for September 19, 2025 before U.S. District Judge Dana M. Sabraw. At present, Le remains detained without bail.
Assistant U.S. Attorneys Joseph Orabona and Ashley Goff are prosecuting the case with assistance from the Federal Bureau of Investigation (FBI). The maximum penalty for each count of wire or mail fraud is twenty years in prison along with a $250,000 fine and mandatory restitution if convicted.
Anyone who may have information regarding possible investment fraud related to Sang Phuoc Do Le is encouraged to contact the FBI’s San Diego Field Office at (858) 320-1800 or submit tips online via https://tips.fbi.gov/.
“The charges and allegations contained in an indictment or complaint are merely accusations, and the defendants are considered innocent unless and until proven guilty.”
