PTA moms Ponzi scheme nets $14 million
July 7th, 2011 - 7:49 pm ICT by Aishwarya BhattLos Angeles, July 7 (THAINDIAN NEWS) The Los Angeles County district attorney’s office has charged three PTA mothers for running a Ponzi scheme and eventually duping about 40 people out of a fortune of $14 million. The three mothers have been charged with 22 felony counts of fraud and grand theft.
41-year-old Maricela Barajas, 50-year-old Juliana Celeste Menefee and 51-year-old Eva Perez could each face up to 13 years in jail if they are convicted of the charges. The three are former Diamond Bar elementary school PTA members. The L.A. County sheriff conducted investigation into the conduct of the three women and charges were brought against them after the conclusion of the investigation on Wednesday.
The investigators said the three suspects promised their victims returns of up to 100 percent. The victims were also promised that their investments were safe even if they do not get the returns that they have been assured of. Two of the women were arrested on Tuesday when the victims realized that they might not get their money back.
Perez who is the third suspect is already in jail after she was given an 11-year-old sentence last year following conviction of multiple grand theft charges. The case was in connection with the same scheme.
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Tags: 13 years, conviction, county district attorney, diamond bar, elementary school pta, eva, felony counts, fraud, investigators, juliana, l a county sheriff, los angeles county, los angeles county district attorney, maricela, menefee, moms, ponzi scheme, pta members, theft charges, three women