Shoujing Zhou and Nathen W. Barton v. Ting Fu, Ye Ying Zhao, HEA Inc., Hong Li, Jie Huang, Wei Liu, Xiaomin Zhang, Dan Yu, and John Does 1-10

CourtDistrict Court, D. Oregon
DecidedDecember 18, 2025
Docket3:24-cv-01944
StatusUnknown

This text of Shoujing Zhou and Nathen W. Barton v. Ting Fu, Ye Ying Zhao, HEA Inc., Hong Li, Jie Huang, Wei Liu, Xiaomin Zhang, Dan Yu, and John Does 1-10 (Shoujing Zhou and Nathen W. Barton v. Ting Fu, Ye Ying Zhao, HEA Inc., Hong Li, Jie Huang, Wei Liu, Xiaomin Zhang, Dan Yu, and John Does 1-10) is published on Counsel Stack Legal Research, covering District Court, D. Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Shoujing Zhou and Nathen W. Barton v. Ting Fu, Ye Ying Zhao, HEA Inc., Hong Li, Jie Huang, Wei Liu, Xiaomin Zhang, Dan Yu, and John Does 1-10, (D. Or. 2025).

Opinion

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF OREGON

SHOUJING ZHOU and NATHEN W. BARTON, Case No. 3:24-cv-01944-AB Plaintiffs, OPINION & ORDER v.

TING FU, YE YING ZHAO, HEA INC., HONG LI, JIE HUANG, WEI LIU, XIAOMIN ZHANG, DAN YU, and JOHN DOES 1-10,

Defendants. BAGGIO, District Judge: Self-represented Plaintiffs Shoujing Zhou and Nathen W. Barton bring this action against self-represented Defendants Ting Fu, Ye Ying Zhao, HEA Inc., Hong Li, Jie Huang, Wei Liu, Xiaomin Zhang, and Dan Yu alleging: (1) fraud; (2) unlawful business practices under Or. Rev. Stat. §§ (“ORS”) 646.608 and 646.609; (3) fraudulent misrepresentation; (4) unjust enrichment;

(5) breach of contract; (6) violation of—and conspiracy to violate—the Racketeer Influenced and Corrupt Organizations Act, 18 U.S.C. § 1962(b)–(d); and (7) sale of unregistered securities in violation of 15 U.S.C. §§ 77e and 77x and ORS 59.115 and 59.135. See Am. Compl. ¶¶ 863– 1223, ECF No. 53. Defendants now move to dismiss and strike portions of Plaintiffs’ Amended Complaint under Federal Rule of Civil Procedure 12(b)(6) and (f).1 Defs.’ Mot. Dismiss and Strike (“Defs.’ Mot.”), ECF No. 71. For the reasons below, the Court grants in part Defendants’ Motion. BACKGROUND Over two years, Plaintiffs made several money transfers that they believed to be

investments in—or loans in connection with—a “[f]oreign currency trading business” operated by Defendant Fu and supported by her alleged accomplices, Defendants Zhao, HEA, Inc., Li, Huang, Liu, Zhang, and Yu. Am. Compl. ¶¶ 30, 138, 142, 921. Specifically, between July 29, 2022, and June 2, 2023, Plaintiffs made deposits “for the purpose of loaning . . . ‘investment’

1 At the time Defendants filed their Motion to Dismiss and Strike, they were represented. Shortly after filing Defendants’ pending motion, counsel for Defendants withdrew as counsel of record with the Court’s leave. See Mot. Withdraw, ECF No. 74; Order, ECF No. 77. All Defendants are currently unrepresented. Additionally, in its July 16, 2025 Order, the Court explained that Defendant HEA, Inc. could not join the pending Motion to Strike and Dismiss because Defendant HEA, Inc. is a corporation and cannot proceed without representation. Order, ECF No. 89. The Court entered default against Defendant HEA, Inc. on August 28, 2025. Order, ECF No. 93. For clarity, “Defendants’ Motion” refers only to the non-defaulting, individual Defendants. money to earn a return . . . .” Id. ¶¶ 1111–12. In 2024, Plaintiffs allege that they discovered that the foreign currency trading business “was a scam and Ponzi scheme from the very inception . . . .” Id. ¶ 97. While there are eight named Defendants in this case, Plaintiffs’ allegations focus on the alleged wrongdoings of Defendants Fu and Huang. See id. ¶ 108 (“[Defendant Fu] is the

ringleader of the ‘investment.’”); see also id. ¶ 59 (“[Plaintiffs] learned [Defendants Fu and Huang] owed [other victims] over a million dollars . . . .”). Plaintiffs allege that Defendants Zhao, Li, Zhang, Yu, and Liu were also involved in defrauding Plaintiffs, but allege lesser degrees of involvement in the foreign currency trading business and fewer interactions with Plaintiffs. See, e.g., id. ¶ 886 (“[Plaintiff Zhou] less frequently socialized with [Defendants Li and Zhang] . . . .”). Collectively, Plaintiffs allege that “[t]he Fraudsters pulled [Plaintiff Zhou] into their social circle to gain [Plaintiff Zhou’s] trust so they could extract money out of [Plaintiffs].” Id. ¶ 698. I. Defendants Huang and Fu

Beginning in October 2022, and over the next two years, Plaintiff Zhou transferred her and Plaintiff Barton’s money to Defendants Huang and Fu with the belief that Plaintiffs’ money would be invested only in the foreign currency trading business. Id. ¶¶ 41, 104. Plaintiffs allege that one of Plaintiff Zhou’s friends, Defendant Huang, “introduced the idea of the [foreign currency trading business] investment to [Plaintiff Zhou].” Id. ¶ 18. In 2022, Defendant Huang told Plaintiff Zhou she was interested in making an investment “in a profitable foreign exchange business . . . but was short the money to do so, and wanted to borrow it from [Plaintiff Zhou].” Id. ¶ 21. In July 2022, Plaintiff Zhou agreed to lend Defendant Huang $30,000. Id. ¶ 22. In exchange, Defendant Huang promised to repay Plaintiff Zhou $33,000 one month later. Id. ¶ 23. But Defendant Huang never paid Plaintiff Zhou any amount under this agreement. Id. ¶ 25. Plaintiffs also allege that Defendant Huang helped Defendant Fu promote the foreign currency trading business by “befriend[ing] other women in the Portland Chinese community,” and claiming that “she herself wanted to take advantage of the new opportunity and ask her

‘friend’ if she could borrow money . . . .” Id. ¶¶ 15–16. Plaintiffs allege that Defendant Huang similarly befriended Plaintiff Zhou for the purpose of gaining her confidence and obtaining her money while knowing the foreign currency trading business was fraudulent. Id. ¶¶ 579–582, 685, 878. As Plaintiffs grew more suspicious of the foreign currency trading business, Plaintiff Zhou requested that Defendant Huang provide “more details of the supposed ‘[f]oreign currency trading business.’” Id. ¶ 702. In response, Defendant Huang “blocked [Plaintiff Zhou] on WeChat” in early 2024. Id. ¶ 703. In October 2022, Plaintiff Zhou met Defendant Fu, the alleged “ringleader of the [foreign currency trading business].” Id. ¶¶ 108, 618. That month, Defendant Fu explained to Plaintiff

Zhou “how the ‘investment’ worked.” Id. ¶ 619. In this explanation, Defendant Fu said that Plaintiff Zhou would receive a “10% payout . . . 9–10 times a year[,]” and “within one year the profit would equal or exceed the principle [sic].” Id. ¶¶ 633–34. After hearing Defendant Fu’s explanation, Plaintiff Zhou entered into a written agreement with Defendant Fu on October 29, 2022. Id. ¶¶ 32, 636. The fundamental provisions of the agreement are alleged as follows: (1) Plaintiff Zhou would lend Defendant Fu $300,000; (2) Defendant Fu would invest that money in a “[f]oreign currency trading business” only; and (3) Defendant Fu would repay $30,000 “every 40 business days.” Id. ¶¶ 32, 41; see also Am. Compl. Ex. 1 (contract dated October 29, 2022, between Plaintiff Zhou and Defendant Fu), ECF No. 53-1. In 2023, Defendant Fu told Plaintiffs that “new money borrowed would be treated the same as the money under contract, the same 10% return every 40 business days.” Id. ¶ 47. With this understanding, Plaintiffs loaned Defendant Fu “another $326,400 in USD and ¥2,890,000 RMB under these terms.” Id. ¶ 48. In total, Plaintiffs allege that Defendant Fu directed Plaintiff Zhou twenty six times2 “to deposit money to specific accounts controlled by agents of the ‘investment’ for the purpose of loaning

the ‘investment’ money to earn a return on the loaned money[,]” and Plaintiff Zhou did so each time. Id. ¶¶ 1111–12. Defendant Fu also told Plaintiff Zhou that “if [Plaintiff Zhou] needed any money to just tell [Defendant Fu], and [Defendant Fu] would tell the Boss [Song Zhang]3 to let [Plaintiff Zhou] withdraw the profit immediately.” Id. ¶ 632. In September 2023, Plaintiffs requested “$9,000 due under the contract” from Defendant Fu. Id. ¶ 50. Defendant Fu responded with excuses as to why payments could not be made. Id. ¶¶ 50, 55.

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Shoujing Zhou and Nathen W. Barton v. Ting Fu, Ye Ying Zhao, HEA Inc., Hong Li, Jie Huang, Wei Liu, Xiaomin Zhang, Dan Yu, and John Does 1-10, Counsel Stack Legal Research, https://law.counselstack.com/opinion/shoujing-zhou-and-nathen-w-barton-v-ting-fu-ye-ying-zhao-hea-inc-hong-ord-2025.