Image via WikipediaBy Randy Economywww.Economy4ABC.Blogspot.com
December 7, 2010
3:42 p.m.
Los Angeles, CA
I wanted to update my blog about the arrest of Beverly Hills Scam Queen Rosi Ray from the FBI.
Yep, ol' Rosi has been put in hand cuffs and arrested on federal wire fraud charges for running one of those seedy ponzi schemes. (Photo simulation of Rosi on the side. Real photo of Rosi running the streets of Beverly Hills right before her arrest.... below)
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| Rosi Ray. Caught on film. Randy Economy Blog Photo |
Here is the "official" word from the FBI. Send this to everyone you know who has been ripped off my Rosi Ray.
Also, keep sending me information on how Rosi Ray ripped you off. We CAN keep the pressure up to make sure that she never does this again. Hit my comment section.
Keep you posted....
RrE
From the
FBI Los Angeles
Federal authorities have arrested a Beverly Hills woman on federal wire fraud charges for allegedly running a Ponzi scheme that collected nearly $11 million from scores of Southland victims who were promised huge profits from settlement annuities.
Rosi Ray, 56, of Beverly Hills, was arrested at her business yesterday by special agents with the Federal Bureau of Investigation. Ray, who also used the names “Rose Ray” and “Gloria Lujan,” was arraigned late Thursday in United States District Court in Los Angeles, where she pled not guilty to the five counts in the indictment.
The indictment, which was returned by a federal grand jury on December 1, alleges that Ray and others solicited investments from victims who were told their money would be used to purchase court-ordered, monetary settlement annuities from accident victims at a discount, and the settlement annuities would then be cashed in at a substantial profit. Ray told investors that once she purchased the annuities she could arrange to receive the true value of the settlement in a lump sum. As part of the scheme, Ray told victims that their investments were guaranteed to earn a substantial monthly return, anywhere from 10 to 200 percent over a period of two to 12 months.
The indictment alleges that Ray did not spend any of the investors’ money on the promised investments. Rather, Ray spent the money on investor payouts, her son’s drag racing career, her purse consignment business, and personal expenses.
As a result of the fraud scheme, the indictment alleges, Ray caused approximately 180 investors to invest approximately $10.9 million in the bogus monetary settlement annuity business, with approximately half of the investors losing most of their money.
An indictment contains allegations that a defendant has committed a crime. Every defendant is presumed innocent until and unless proven guilty.
Each count of wire fraud in the indictment carries a statutory maximum penalty of 20 years in federal prison.
Ray was released late Thursday on a $100,000 bond. She is currently scheduled to go on trial on January 25 in United States District Court in Santa Ana.
The case against Ray is the result of an investigation by the Federal Bureau of Investigation.
10 comments:
I am a victim of Rosi. She had brought a lot of pain to me and my loved ones. I hope she spends the rest of her natural life in prison.
By the way, this is not her first time in trouble. She did time in the early 90's for passing bad checks.
Randy... I was a victim of this total evil woman. Her son is just as bad. Do you understand the pain she has caused my family? I literally have lost my faith in the legal system.
amazing where this latina girl from temple city ended up. i bought into her scam at the law offices in santa ana which she used as window dressing to help sell the scam saying she was working with these lawyers.her spoiled son keeter may finally have to get a job when hopefully mommy is found guilty of ripping off all her victims.
amazing where this latina girl from temple city ended up. i bought into her scam at the law offices in santa ana which she used as window dressing to help sell the scam saying she was working with these lawyers.her spoiled son keeter may finally have to get a job when hopefully mommy is found guilty of ripping off all her victims.
Im a victim of Rosi. i just found out about her arrest. Can you tell me who I can contact to give them all the documentation I recieved from her
To the above victim of Rosi Ray. Please contact the Los Angeles Office of the FBI.
Randy, this lady is a real con artist. I'm embarrased to say that I fell for her scam and invested a lot of money. I've done soem research of my own and found out that she owns property in Mission Viejo, Irvine, Newport, and other areas. Her son Keeter as you know is a so called professional car driver. For some reason Rosi phone numbers end in 9696 dont know why but i found it interested. There are also a lot of complaints as to her high end purse consignment. She would never send the purses purchased or would never give the people the money once she would sell one. I hope she gets sent to jail for a long long time. She took advantage of low income people that gave her their life savings.
My husband and I invested well over 250,000 dollars with her and she has turned our world upside down. We have little children to raise, a business that we lost over this woman and bankrupt for believing in her. We still are in the process of suing her but this takes money right now. Please email me if you need evidenceto try collect or put her away. Justice is what I am looking for....araceli.ferrera@global.net.
ray`s trail date was moved from jan. to may 9 at 9am for a status conference hearing at the ronald reagan federal courthouse in santa ana. if you have any of her junk promissory notes or bounced checks please call Special Agent Allison Hirsch at 310-996-3915. She is in charge of collecting all evidence for asst. dist attorney Kerry O`neil in this case.
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