Commit $400 Million Fraud....Go To Jail

Gina Champion-Cain, a San Diego businesswoman, is heading to jail for 15 years after running a $400 million Ponzi scheme.

Gina Champion-Cane was the owner of the Patio Group, a group of restaurants and shops in San Diego and managed many other investments.

Starting in 2012, she began taking investor money to offer high interest loans to restaurant business owners who were in the process of attaining their California liquor license.

It took nearly 7 years for investors to begin raising concerns, but once the SEC came knocking, Gina had nowhere to go. She was guilty of using investors funds for personal expenses, lifestyle, and funneling money into her negative cash flow businesses.

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News article:
https://www.nbcsandiego.com/news/local/mastermind-behind-400m-ponzi-scheme-gina-champion-cain-sentenced-to-15-years-in-prison/2564680/

Plea Agreement:
https://www.documentcloud.org/documents/7000108-GC-C-Plea-Agreement

News clips used:
https://www.youtube.com/watch?v=bbDYgrPW8VU