3 Charged In Stock Market Investment Scam

RANCHO CUCAMONGA (CBSLA)  — A 19-year-old woman and two men in their twenties were arrested at their Rancho Cucamonga apartment after being accused of running an Instagram scam where they promised to double people's money in the stock exchange.

According to detectives, Zoe Ramirez used an Instagram account under the username "Quueeeeeennn" to message with men claiming that she and her mother-in-law "Talishah" would invest $500 of their money into stocks, turning it into over $1,000.

The mother-in-law turned out to actually be Ramirez's male accomplices.

Police say one man conned into sending money transferred $4,000 to the scammers.

When the man eventually asked for them to sell his stocks so he could collect his money, he was told that the money was continuing to grow and that he would have to pay another fee if he wanted the money back.

Neighbors of the scammers say they have seen similar investment scams online.

"My dad bought it because he's elderly and he thinks everything on the internet is true," said neighbor Shayna Peruch-Irby, whose father lost $100,000 in an unrelated scam.

Police say they found the victim's property, large amounts of cash, and evidence identifying more victims inside their apartment.

The trio has been charged with grand theft, conspiracy, and obtaining money with false pretenses.