21 Hrs
Source:
Los Angeles Times
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Palisades resident defrauded investors in scheme
A former resident was convicted of running a Ponzi scheme that defrauded investors of nearly $2 million through false claims related to smart ring technology. She falsely claimed ownership of patents, profits, and partnerships with major companies to attract investments, but in reality, the business had little revenue and no such agreements. Most of the stolen funds were used for personal expenses, and a sentencing date has been set for January.
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