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January 14, 2010

Ponzi Suspect Also Alledgedly Bilked Redondo Woman Out of Her Home (WA. USA)

By Larry Altman, Staff Writer
01/12/2010


A woman arrested last week on suspicion of running a Ponzi scheme that netted $500,000 from 55 victims has been charged in a $682,000 fraud case that caused a 90-year-old Redondo Beach woman to lose her home.
Mariana Montes, 41, allegedly duped Ruby Moore into signing documents to take out home equity loans and refinance her fully-paid $900,000 home three separate times, leaving her unable to pay the mortgage.
Moore, whose family had owned the property in the 700 block of Juanita Avenue for about 100 years, was forced to sell the home to pay the bank, and is now living in a senior care home in Torrance, police said.
Montes allegedly asked the woman to sign blank checks, which she cashed herself.
"She lived off it," said retired Redondo Beach police Capt. John Skipper, who worked the so-called cold case. "We know that she gave some money to friends. We know that she went to Mexico and got a liposuction procedure."


Family members went to the Redondo Beach Police Department three years go when bank officials notified them that they were about to foreclose on the house because just one payment had been made on a $500,000 loan, niece Kathleen Cupery said.
A detective worked the case, but prosecutors rejected filing charges against Montes, citing the need for more evidence. Skipper and retired police Sgt. Rick Peterson, who have been working cold cases, spent more time investigating the case and submitted it again to the District Attorney's Office.


Prosecutors charged Montes two weeks ago with financial elder abuse. She is scheduled to appear Friday in Torrance court.


Abridged
SOURCE:    The Daily Breeze
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