Run Ping Luo, a 69-year-old resident of San Francisco, has filed a lawsuit against Yiguang Tang in the Superior Court of California, County of San Francisco, on October 30, 2024. The complaint accuses Tang of fraud and elder financial abuse, among other charges.
According to the lawsuit, Luo was approached by Tang in November 2023 with an offer to sell four jadeite bracelets. Tang claimed these were high-quality "Grade A" jadeite bracelets worth close to $1 million if sold through an auction house. To substantiate his claims, Tang presented certificates from "Dr. Chunyun Wang Jade Workshop" in China as proof of the bracelets' authenticity and quality. Due to financial constraints and a need for quick cash, Tang allegedly insisted on cash payments only.
Luo agreed to purchase the bracelets for $430,000 and made several cash payments between November and December 2023. However, upon showing the bracelets to a friend who doubted their authenticity, Luo sought further verification from the Gemological Institute of America (GIA). The GIA determined that the bracelets were not "Grade A" but rather "B+C," meaning they had been treated and were worth only a few hundred dollars.
Feeling deceived, Luo confronted Tang and demanded either genuine Grade A jadeite or a refund. When Tang refused both requests and cut off communication with Luo, legal action ensued. Luo's complaint lists seven causes of action: fraud, elder financial abuse under California law due to his age at the time of transaction (69 years), breach of written contract, breach of covenant of good faith and fair dealing, negligent misrepresentation, unjust enrichment, and civil theft under Penal Code §496(c).
Luo seeks compensatory damages amounting to no less than $430,000—the total he paid for the bracelets—and treble damages under California's civil theft statute. He also demands special damages as determined by proof at trial along with attorney’s fees and costs.
The case is being handled by attorneys Darius T. Chan and Henry Yu from CCD Law Group P.C., representing Run Ping Luo. The case is filed under Case No.: CGC-24-619897 in front of Judge Austin Lam.