(FOX40.COM) — A Sacramento woman who defrauded nearly 160 investors out of more than $10 million to fund a lavish lifestyle that included vacations, luxury cars and a home has pleaded guilty.
49-year-old Maria Dickerson pleaded guilty to one count of wire fraud and one count of securities fraud, the U.S. District Attorney’s Office for the Eastern District of California announced.
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She faces up to 20 years for each count, and faces a $250,000 maximum fine for wire fraud and up to $5 million for securities fraud.
Dickerson, also known as “Dulce Pino,” “Maria Dulce Pino Dickerson,” and “Dulce Brubaker,” operated a fraudulent investment scheme where she paid off older investors with funds from newer investors.
She promised investors a return of at least 10% per month, the district attorney’s office said. To appear credible to investors, she falsely claimed to some investors that her company, Creative Legal Fundings of CA, was associated with the CEO of a multinational casino and resort.
Dickerson defrauded roughly 156 investors out of more than $10 million.
She used the money on vacations, gambling, private jet travel, a home in Sacramento and Mercedes-Benz vehicles.
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