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PTA Moms Accused of Running Ponzi Scheme

Posted on Jul 14, 2011

Earlier this month, three mothers from one California PTA were arrested for allegedly running a Ponzi scheme that cost dozens of victims millions of dollars. Most of the alleged victims were parents that they met at school functions. The District Attorney's Office has accused the women of befriending their victims and collecting anywhere from $2,000 to $100,000 per victim.

The women are said to have told their friends that they were investing in a contract with Alta Dena Dairy to be the exclusive provider of milk to Disneyland. They allegedly promised their investors extraordinary returns on their investments and, according to police, some of the investors took out second mortgages or put their life savings into the hands of these PTA moms. However, Alta Dena Dairy denies that the accused have any association with the company and the DA's office says that the operation was a Ponzi scheme that fell apart when the women could not return money to their investors.

Those accused of this crime include 41-year-old Maricela Barajas, 50-year-old Juliana Menefee, and 51-year-old Eva Perez. Their arraignment is currently scheduled for August 4, 2011.

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