LA Sheriff: PTA Moms Cheated Investors Out Of $14M

DIAMOND BAR (CBS) — Three Diamond Bar PTA mothers are each facing nearly two dozen felony charges for allegedly operating a Ponzi scheme.

Maricela Barajas and Juliana Menefee were arrested Tuesday. Eva Perez was already in custody on an unrelated case.

Police says the trio cheated roughly 40 investors out of $14 million by lying about a deal to sell dairy products at Disneyland.

Investigators say the women earned the trust of their alleged victims while they were members of the Armstrong Elementary School PTA.

About $10 million was returned to investors, but deputies say millions more had already been spent on new cars, lavish hotels and casino gambling.


More From CBS Los Angeles

KNX 1070 Newsradio
Follow Us On Twitter

Listen Live