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Brokers get prison terms for theft, fraud

Keywords: Tags  scrap metal, scrap broker, Incom Trading, Hong Lee Wong, a principal in Powell Trading, Powell Commodity, Danny Duong, William Wong Lisa Gordon

PITTSBURGH — A pair of California metal brokers have been sentenced to more than two years in prison after being convicted of bilking West Coast and Chinese investors out of $125,000 in the hope of acquiring scrap from an amusement park ravaged by Hurricane Katrina.

Ngoc Duong, also known as Danny Duong, of Fountain Valley, was jailed for 30 months, and Hong Lee Wong, also known as William Wong, of Torrance, was jailed for 28 months for wire fraud and aggravated identity theft, according to the U.S. Attorney’s Office in San Francisco.

Duong, a partner in Incom Trading Corp. Inc., and Wong, a principal in Powell Trading Inc. and Powell Commodity Inc., had been accused of defrauding a California scrap metal brokerage firm and two Chinese companies (, Aug. 1, 2012).The men had claimed to have an agreement with the city of New Orleans to recycle scrap metal from a Six Flags amusement park damaged in the 2005 hurricane. They created and sent false documents with the names and e-mail addresses of New Orleans city officials.

Duong and Wong have been ordered to report to prison on Aug. 8. After serving their sentences they will be on supervised release for three years. The men have already forfeited $106,500 and face a restitution hearing on July 18. Neither could be reached for comment.

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