A prominent Orange County philanthropist and well-connected jeweler is now accused of bilking wealthy investors out of millions of dollars and then fleeing the country, according to a series of civil lawsuits filed over the past few months in both state and federal court.
Moti Ferder, the co-founder and until recently CEO of Newport Beach-based Lugano Diamonds, is alleged to have defrauded more than 40 creditors out of “hundreds of millions of dollars,” according to more than a half-dozen lawsuits filed by multiple investors.
The allegations follow Ferder’s resignation as CEO of Lugano Diamonds, which the lawsuits contend was spurred by an internal investigation into accounting, financing and inventory irregularities within the business, which runs high-end jewelry “salons” in Newport Be