Pina records fbi8/11/2023 ![]() ![]() “Alexander told these would-be investors that they would receive 12 percent annual returns.”Īmong the investors were retirees and others who could not afford to lose life savings, and much of their money never funded those loans, according to the federal investigators. ![]() “Using her status as host of an internationally syndicated financial radio show to lure investors, Alexander told prospective investors that their money would fund short-term fixed-rate loans secured by real property,” the civil complaint reads. to solicit about $7 million from about 45 people to invest in two real estate-backed investment funds. The maximum penalty for most of the 43 charges they face is 20 years in prison and, for some charges, a $5 million fine.Īlexander, who owned mortgage and investment companies in Monterey, is best known as the host of the weekly financial radio show “MoneyDots” on KION-AM 1460.Īccording to the criminal indictment and the civil complaint, Alexander and her partners used their company APS Funding Inc. All were detained on arrest warrants early Thursday. On Wednesday, Alexander, 63, along with Seaside resident Michael Swanson, 62, and Beth Piña, 44, a former Monterey resident now living in Idaho, were indicted on 43 criminal counts by a federal grand jury in San Jose. ![]() “Alexander led investors to believe she would invest their money in secured real estate financing, but she and her cohorts merely used the money for their own benefit,” Marc Fagel, director of the SEC”s San Francisco office, said in a statement. Radio talk show host Barbra Alexander and two of her business associates were arrested by FBI agents early Thursday for alleged securities frauds, money laundering and other criminal charges in an enterprise that showed “the classic hallmark of a Ponzi scheme,” investigators said.Īt the same time, Securities and Exchange Commission officials announced additional civil charges, alleging the three stole $2.5 million from local investors, many of them family and friends. ![]()
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