Dave Rice 1:30 p.m., July 28
Psssst! Wanna Make 90 Percent a Month? Those Who Bit on Escondido Ponzi Scheme Got Taken to the Cleaners
Clementine Estrada pleaded guilty in federal court Friday (May 9) to a conspiracy charge related to her operation of two Escondido scams: the Crystal Rose and Sterling Rose Capitalization Programs. She promised investors returns of up to 90 percent a month, and claimed their capital would be protected. She admitted she fleeced 68 investors out of almost $2 million. She confessed that she misappropriated and dissipated the investors' money and provided them with false information. She also admitted that she violated terms of an earlier permanent injunction brought by the Securities and Exchange Commission. The sentencing hearing will be Aug. 8 at 9:30 a.m. before U.S. District Judge Barry Ted Moskowitz.