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© handoutMaricela Barajas, 41 and Juliana Menefee, 50 and Eva Perez, 51
Approximately $14 million was collected during the scheme which involved more than 40 victims

Three mothers who were on the PTA at Diamond Bar elementary are accused of stealing millions of dollars from dozens of victims in an elaborate Ponzi scheme.

Two of the suspects, 41-year-old Maricela Barajas (aka Maricela Torres) and 50-year-old Juliana Menefee were arrested Tuesday at their homes in Diamond Bar.

The third suspect, 51-year-old Eva Perez, is currently behind bars, serving an 11-year sentence at the Central California Women's Facility on prior felony grand theft charges.

They were charged on Wednesday with 22 criminal counts each of grand theft of personal property and securities fraud, according to the Los Angeles County district attorney's office.

If convicted on all counts, the women could get up to 13 years in state prison.

For the past six months, detectives from the Los Angeles County Sheriff's Department have been investigating the suspects who were actively involved in the Parent Teacher Association (PTA) at Armstrong Elementary School in the city of Diamond Bar.

According to detectives, the women would gain the friendship and trust of 'investors' during organized school events and social functions.

The suspects required all investments to be made in cash and assured the victims that their investments were safe and guaranteed.

They claimed to have the exclusive right to sell AltaDena Dairy products at Disneyland, Disney Hotels and to small retailers.

They told investors they needed funds to grow the business and offered lucrative rates of return of up to 100-percent.

Approximately $14 million was collected during the scheme. About $10 million was returned to investors to keep new money coming in, while approximately $4 million was retained by the suspects.

Over $1.5 million has been proven as actual losses to the victims through the extensive investigation by Sheriff's Commercial Crime Bureau detectives.

About $2.5 million has not been directly accounted for, and it is speculated that the suspects used the money for lavish vacations, expensive hotels, new cars and casinos in California and Nevada.

Authorities say the fraudulent investment scheme began to unravel when they were pressed for payment by their investors and they were unable to perform.

The known victims live in Chino, Diamond Bar, Gardena, Granada Hills, Lawndale, Los Angeles, North Hollywood, Norwalk, Pacoima, Pico Rivera, Pomona, Rancho Cucamonga, Redondo Beach, Riverside, San Bernardino, Santa Fe Springs, South Gate, Torrance, Whittier, Wilmington, and Salt Lake City, Utah.


Source: KTLA News