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More than 150 duped in SoCal Ponzi scheme

April 14, 2009 7:36:36 AM PDT
An El Segundo woman is facing charges for allegedly running a multi-million dollar Ponzi scheme.The Securities and Exchange Commission says Clelia Flores' investment firm duped more than 150 people into investing in what they thought were risk-free, high-yield programs.

She reportedly only used some of the $23 million raised to invest in high-risk ventures that never paid any returns.

She also allegedly used some of the cash for personal expenses including buying a house. .


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