They're not your typical mug shots, but three California moms were the subject of a dodgy Ponzi scheme. PTA members one and all, they swindled millions from fellow parents at Armstrong Elementary School in the town of Diamond Bar.
Maricela Barajas, 41, Juliana Celeste Menefee, 50, and Eva Perez, 51, were charged with 22 felony counts each -- grand theft of personal property and securities fraud -- and could face a prison term of up to 12 years.
The notorious "mompreneurs" convinced parents at PTA meetings and other school functions to hand over their savings. Some took out second mortgages to invest in the scheme. In return, the women promised a massive return on the investments, which of course disintegrated as soon as people started asking for payments.
It's estimated that the women collected around $14 million, about $2.5 million of which was spent on trips and luxury items, before they were apprehended.
"They tried to get my wife to invest in the beginning of this scam and I said no," said the husband of one of the women targeted by the moms, 'I looked like a jerk to many of the people that knew and invested with Eva. I stood my ground and told my wife to have nothing to do with them and that in time they will be caught if they are doing wrong. It just didn't make sense that you can double your money in such a short time. These females used God and gifts to befriend you."
Beware those PTA meetings, folks.
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