Bay Area man allegedly pocketed $39 million in Ponzi scheme

May 2— A federal grand jury indicted an East Bay man Tuesday for lying to investors about a plan to buy and resell basketball tickets, a Ponzi scheme that prosecutors allege defrauded victims of $39 million over seven years. Derek Vincent Chu, 41, is accused of soliciting investments in a fake scheme to resell professional basketball tickets and luxury suites at…