El Paso Police arrest a migrant in front of Sacred Heart Church on Wednesday, Jan. 4, 2023.
San Diego, California – Federal prosecutors say an Oceanside man ran an elaborate, multimillion-dollar fraud scheme that bankrolled his gambling habit and luxury car purchases, while investors believed they were funding a profitable Apple iPhone resale business.
Sang Phuoc Do Le, 38, also known as “Andy Le,” was arraigned today on five counts of wire and mail fraud. According to an indictment unsealed in San Diego, Le convinced victims to invest more than $2 million in what he described as the MobileSky Companies—two businesses he claimed bought Apple iPhones in bulk and sold them overseas at a profit.
Investigators allege that neither MobileSky nor MobileSky2 conducted any such trade. Prosecutors say Le used the name of an actual business in Northern California, without permission, to lend his pitch credibility. He allegedly told investors he had a legitimate Apple Reseller Agreement, secured large overseas purchase orders, and would use their money to buy Apple products in bulk.
To reinforce the illusion, Le is accused of sending falsified Apple receipts and claiming that more than $1 million in iPhones were awaiting delivery. In reality, prosecutors say, investor funds were spent at casinos in California, Arizona, Nevada, and Florida, or on personal luxuries, including a green Lamborghini purchased through West Coast Exotic Cars and Fusion Luxury Motors.
Court documents describe a Ponzi-like operation in which some investors were repaid modest returns with money from new recruits, while others received nothing at all. FBI records show that in one instance, Le received $792,500 from an investor, withdrew $300,000 in cash, and transferred nearly $400,000 to car dealerships—none of it used to buy iPhones.
According to the complaint, Le often courted potential backers over expensive dinners or trips to Las Vegas, using his visible wealth and high-stakes gambling to instill confidence. Some investors even wired funds directly to casinos at his request, after he claimed he used them “like banks” for his business. Casino records instead revealed heavy gambling losses.
When investors asked about overdue interest payments, Le allegedly offered repeated excuses while continuing to solicit new money with promises of monthly returns as high as 17 percent.
Le was arrested July 23 after returning from a casino trip in Arizona. He pleaded not guilty at his arraignment and remains in custody without bail. A motion hearing and trial setting is scheduled for September 19 before U.S. District Judge Dana M. Sabraw.
If convicted, Le faces the possibility of significant prison time and restitution orders for those who prosecutors say lost their savings to his scheme.
