When buyers demanded their money back, Holdo agreed to refunds but pocketed the cash, leaving most victims without their money.
“When bad actors use complex schemes to take away Californians’ hard- earned money, they will be held accountable,” California Attorney General Rob Bonta said in a statement. “Let this announcement be a warning to those who would enrich themselves at the expense of others. The California Department of Justice will continue to investigate, expose, and dismantle financial crimes and fraud across California.”