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Woman behind $400M scam sentenced to 15 years in prison

© iStock A longtime San Diego business and real estate figure on Wednesday was sentenced to 15 years in prison for a massive scheme that defrauded investors out of nearly $400 million. Gina Champion-Cain previously admitted to obtaining more than $350 million from investors as part of a fake liquor-license loan funding program, according to a press release from the U.S. Attorney’s Office for the Southern District of California. Prosecutors in the case argued that Champion-Cain along with co-conspirators instead used funds from investors to “support her other businesses and her lifestyle.” ADVERTISEMENT Court records indicated that the woman was able to maintain the scheme and hide it from investors by forging documents and signatures, and “telling investors lies through fake email accounts so that when investors attempted to double-check on their investments with third parties, they were often really communicating with the defendant or her employees,” according

United statesSan diegoRandy grossmanAaron arnzenLarry alan burnsAndrew galvinSouthern districtJudge larry alan burnsUnited states attorney aaron arnzenPonzi schemeSecurities fraudObstruction of justiceDepartment of justiceஒன்றுபட்டது மாநிலங்களில்சான் டியாகோரேண்டி மொத்த மனிதர்

Longtime Californian restauranteur sentenced for role in $350M Ponzi scheme

Longtime Californian restaurateur sentenced for role in $350M Ponzi scheme Pool feed and last updated 2021-04-01 09:27:25-04 SAN DIEGO (KGTV) â Longtime San Diego business leader and restaurateur Gina Champion-Cain was sentenced to 15 years in prison Wednesday for her role in a years-long Ponzi scheme, among other charges. Champion-Cain pleaded guilty on July 22, 2020, to raising more than $350 million from investors with the promise of making loans to business owners trying to get California liquor licenses, only to use that money with co-conspirators to pay back others whose investments would soon be redeemed and support her businesses that were failing or had negative cash flow and lifestyle expenses, according to the office of acting U.S. Attorney of the Southern District of California Randy Grossman.

United statesSan diegoRandy grossmanLarry alan burnsCrispin torresLongtime san diegoGina champion cainSouthern districtCalifornia randyJudge larry alan burnsChief financial officerGina champion cain sentencedPonzi scheme in san diegoSan diego restaurant owner in ponzi schemeRestaurant owner raised 400 million in fake planஒன்றுபட்டது மாநிலங்களில்

San Diego Woman Behind $400M Ponzi Scheme Gets 15-Year Prison Sentence

By Rebekah Gonzalez In June 2020, a prominent San Diego businesswoman On Wednesday, March 31, U.S. District Judge Larry Alan Burns sentenced Champion-Cain to the maximum sentence of 15 years in prison, reports During the hearing, several victims spoke to the judge, said Assistant United States Attorney Andrew Galvin. Nearly 500 victims poured over $350 million into Champion-Cain s sham investment scheme. Ms. Champion-Cain did not use the money to finance liquor-license transactions, as she told investors. Rather, she used tens of millions of dollars to line her own pockets and to support her failing Patio restaurants and other retail businesses. In a news conference following the sentence, it was revealed that the judge handed down a harsher sentence than what was recommended by prosecutors.

San diegoUnited statesAaron arnzenLarry alan burnsAndrew galvinJudge larry alan burnsAssistant united states attorney andrewFront streetசான் டியாகோஒன்றுபட்டது மாநிலங்களில்ஆரோன் அர்நஸின்லாரி ஆலன் தீக்காயங்கள்ஆண்ட்ரூ கால்வின்நீதிபதி லாரி ஆலன் தீக்காயங்கள்உதவியாளர் ஒன்றுபட்டது மாநிலங்களில் வழக்கறிஞர் ஆண்ட்ரூமுன் தெரு

Longtime Californian restaurateur sentenced for role in $350M Ponzi scheme

Longtime Californian restaurateur sentenced for role in $350M Ponzi scheme Pool feed and last updated 2021-04-01 09:27:25-04 SAN DIEGO (KGTV) â Longtime San Diego business leader and restaurateur Gina Champion-Cain was sentenced to 15 years in prison Wednesday for her role in a years-long Ponzi scheme, among other charges. Champion-Cain pleaded guilty on July 22, 2020, to raising more than $350 million from investors with the promise of making loans to business owners trying to get California liquor licenses, only to use that money with co-conspirators to pay back others whose investments would soon be redeemed and support her businesses that were failing or had negative cash flow and lifestyle expenses, according to the office of acting U.S. Attorney of the Southern District of California Randy Grossman.

United statesSan diegoRandy grossmanLarry alan burnsCrispin torresLongtime san diegoGina champion cainSouthern districtCalifornia randyJudge larry alan burnsChief financial officerGina champion cain sentencedPonzi scheme in san diegoSan diego restaurant owner in ponzi schemeRestaurant owner raised 400 million in fake planஒன்றுபட்டது மாநிலங்களில்

San Diego Woman Behind $400M Ponzi Scheme Gets 15-Year Prison Sentence

San Diego Woman Behind $400M Ponzi Scheme Gets 15-Year Prison Sentence
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San diegoUnited statesAaron arnzenLarry alan burnsAndrew galvinJudge larry alan burnsAssistant united states attorney andrewFront streetசான் டியாகோஒன்றுபட்டது மாநிலங்களில்ஆரோன் அர்நஸின்லாரி ஆலன் தீக்காயங்கள்ஆண்ட்ரூ கால்வின்நீதிபதி லாரி ஆலன் தீக்காயங்கள்உதவியாளர் ஒன்றுபட்டது மாநிலங்களில் வழக்கறிஞர் ஆண்ட்ரூமுன் தெரு

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