PTA Ponzi Scheme

Get this, some PTA mothers have been caught running a ponzi scheme with PTA funds.

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.

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.