Oklahoma Woman Sentenced In Ponzi Scheme
TULSA, OK -- An Oklahoma woman is heading to prison for eight years after she admitted stealing $11 million from people across the state.
Dawn Quiroga's business, called Buyers Solutions Marketing offered a down payment assistance program which in theory would provide short-term, high interest loans for people to use as down payments when purchasing homes.
Quiroga recruited investors to back those loans, but prosecutors say she pocketed some money and turned it into a Ponzi scheme when she starting taking money from new investors to pay off prior debts.
They say it lasted for about two years.
"She's done a lot of damage to people in Tulsa and Oklahoma City," said Darren Primicias, a Tulsa victim of the Ponzi scheme.
Quiroga's home and belongings have already been auctioned off to help pay back the victims and the judge also ordered her to pay more than $4 million in restitution.