A Sacramento magnificence queen who admitted operating a multimillion-dollar investment fraud scheme additionally used a portion of the stolen cash for on line casino playing, federal authorities say.
Maria Dickerson, 47, who additionally used the names “Dulce Pino” and “Maria Dulce Pino Dickerson,” pleaded responsible to wire fraud and securities fraud. Prosecutors say she satisfied buyers to pour cash into what she described as a profitable legal-financing enterprise. As an alternative, authorities say, a good portion of the money went towards her personal spending, together with playing.
The scheme ran from about 2020 via 2024, starting the identical 12 months she gained a Ms. Girl Nevada pageant. Throughout that point, Dickerson solicited cash from roughly 156 buyers via her firm, Artistic Authorized Fundings of California.
Based on a civil complaint filed by the Securities and Trade Fee, she instructed buyers their cash can be used to fund civil lawsuits by offering advances to private damage legal professionals. She promised that buyers would see regular month-to-month income, typically claiming returns between 10% and 17.5%.
Authorities later decided that the funding operation she described was not actual.
State regulators say the enterprise grew largely via private connections and phrase of mouth. Potential buyers have been typically invited to small gatherings the place the chance was introduced as a dependable solution to earn constant returns whereas serving to finance lawsuits.
Regulators in Washington state mentioned buyers have been usually promised month-to-month returns round 10%, with the potential to earn much more in the event that they rolled their income again into this system. Investigators concluded the operation functioned in a Ponzi-like fashion, the place incoming funds from new individuals have been used to pay earlier buyers.
Authorities say victims have been unfold throughout a number of states, together with Washington. Officers say neither Dickerson nor her firm held the licenses required to promote securities in Washington.
Sacramento magnificence queen spent investor cash on playing and luxurious journeys
Courtroom data present Dickerson spent not less than $2.5 million of investor funds on private bills.
A few of that cash ended up in casinos. The Securities and Trade Fee says Dickerson spent greater than $280,000 of investor funds at casinos.
Prosecutors additionally say the investor cash coated luxurious journey, personal jet journeys, and costly purchases. Amongst these purchases have been high-end automobiles, together with Mercedes-Benz vehicles.
Federal authorities say the funding choices themselves have been by no means registered with the Securities and Trade Fee, which is required underneath federal regulation. Even so, prosecutors say Dickerson continued soliciting funds whereas making deceptive statements about how the cash can be used and what returns buyers would obtain.
Regulators say many victims got here from the Filipino-American neighborhood and have been approached via trusted relationships and referrals.
Investigators additionally say that after the unique operation started to break down, Dickerson tried to maintain elevating cash via one other enterprise known as The Ubiquity Group. Authorities say she used comparable guarantees of high-return investments to draw extra funds.
The investigation concerned the Federal Bureau of Investigation and IRS Legal Investigation, with help from the Alabama Securities Fee. Assistant U.S. Legal professional Dhruv M. Sharma is dealing with the prosecution.
Dickerson is scheduled to be sentenced July 28, 2026, by Senior U.S. District Decide John A. Mendez.
Wire fraud carries a doable sentence of as much as 20 years in jail and a wonderful of as a lot as $250,000. The securities fraud cost additionally permits for a most 20-year jail time period and fines that may attain $5 million.
Individually, the Securities and Trade Fee has filed a civil enforcement case looking for monetary penalties and the restoration of funds authorities say have been obtained illegally. A choose will decide Dickerson’s remaining sentence after reviewing federal sentencing tips and different elements.
Featured picture: Girl of Achievement through Fb
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