Democrat Candidate for California's Board of Equalization Faces Scrutiny Over Financial Missteps
Yvonne Yiu, a Democrat running for California’s Board of Equalization, is under scrutiny due to her history of financial missteps. The Board of Equalization is responsible for overseeing billions of dollars in the state's property tax system. Yiu has been involved in multiple lawsuits, including a case where she allegedly failed to repay nearly $2 million on a construction loan. Additionally, she was accused of defrauding a Chinese citizen out of $500,000 in a scheme related to the EB-5 visa program. Despite these allegations, Yiu maintains her innocence, stating that the lawsuits targeted a group of owners and not her personally. Her financial firm, Key West LLC, was also fined by the Financial Industry Regulatory Authority (FINRA) for misusing client funds. Yiu, who has previously run for State Controller and State Senate, emphasizes her financial expertise and vows to eliminate waste and corruption if elected.