Prosecutors say Reiswig and her husband placed newspaper ads to market certificates of deposit at higher rates. She then went to her victims' homes and made small talk as the largely working-class retirees signed papers to purchase the bogus certificates.
The couple did not have a license to make such sales and never bought any certificates. Instead they used the money to rent a home in Escondido and spent $800,000 in less than a year.
Prosecutors in San Diego and Orange counties were able to freeze the Reiswigs' assets and their victims will get about 55 percent of their money back.
