Crime & Safety
Bail Set at $590k in Ponzi Case
Bail was set at $590,000 Wednesday afternoon for two suspects in an alleged, Diamond Bar-based Ponzi scheme.
Bail has been raised $90,000 for each of two women suspected of running a Diamond Bar-based Ponzi scheme.
According to the L.A. County District Attorney's Office, bail was set at $590,000 during a hearing Wednesday afternoon at the Pomona Superior Court. Bail was announced at $500,000 upon the women's arrest July 5.
A third suspect, 51-year-old Eva Perez, is currently serving an 11-year sentence on charges for a similar scheme to which she pleaded guilty in December of 2010 in a San Bernardino County court.
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All three women are awaiting an arraignment hearing on Aug. 4 at the Pomona Superior Court, where they face 22 counts of each of grand theft of personal property and securities fraud.
Deputy District Attorney James Belna, who filed the arrest warrant for the trio, said each faces up to 13 years in state prison if convicted of running the scheme investigators said brought in around $14 million and lost up to $4 million from "investors."
Find out what's happening in Diamond Bar-Walnutfor free with the latest updates from Patch.
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