OAKLAND — California Attorney General Rob Bonta revealed this week that Alma Perez has received a sentence of over 18 years in state prison for masterminding a prolonged investment fraud scheme that defrauded five victims of more than $735,000.
The victims, who thought they were safeguarding their retirement savings and inheritance funds, instead found their money misappropriated by Perez for her personal expenses. This fraudulent activity spanned five years, from 2008 to 2013.
After a seven-day trial, a jury found Perez guilty on July 3 of several felony charges, including grand theft, securities fraud, conspiracy, and employing a fraudulent scheme in the sale of securities. The charges were aggravated under California’s white collar crime statute. Perez was taken into custody right after the verdict and was sentenced on August 22 to 18 years and 8 months in prison.
“When bad actors scheme to steal the savings of hardworking Californians, we won’t stand idly by,” said Attorney General Bonta. “Today, justice has been served. Those who cheat the system to line their own pockets will be held accountable for their crimes.”
Perez ran the fraudulent scheme through two companies under her control: Grand Trine LLC and Kings Funding Source LLC. She deceived investors by falsely asserting that their investments were secure and would yield consistent monthly profits. In truth, Perez diverted the funds for her personal expenses—covering everything from groceries and credit card payments to clothing and dining out—and used the money to make ‘Ponzi-style’ payouts to earlier investors, masquerading as legitimate returns.
In one particularly outrageous incident, Perez forged a document to withdraw funds from a victim’s annuity account, subsequently transferring the money into her own personal bank account.
Attorney General Bonta emphasized his office’s continued commitment to pursuing financial crimes and protecting Californians from fraud. “We will continue to fight fraud and financial crimes wherever they occur,” he said.
