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.