Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Friday, March 29, 2024 | Back issues
Courthouse News Service Courthouse News Service

Ponzi Scheme

Businessperson and restaurateur Gina Champion-Cain pleaded guilty in federal court in California to securities fraud for a $400 million Ponzi scheme in which she bilked investors based on false promises she would use their money to make loans to business owners attempting to acquire state liquor licenses.

SAN DIEGO — Businessperson and restaurateur Gina Champion-Cain pleaded guilty in federal court in California to securities fraud for a $400 million Ponzi scheme in which she bilked investors based on false promises she would use their money to make loans to business owners attempting to acquire state liquor licenses.

Categories / Criminal, Securities

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...