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Details Written by Imperial Valley News San Diego, California - Gina Champion-Cain, a long-time San Diego business leader, restauranteur, and real estate magnate, was sentenced in federal court Wednesday to 15 years in prison for masterminding a massive, years-long Ponzi scheme and obstructing justice by hiding and destroying evidence from federal investigators.  When she pleaded guilty on July 22, 2020, Champion-Cain admitted that she raised more than $350 million from investors by promising to use their money to make loans to business owners who were attempting to ac...

San Diego businesswoman sentenced to 15 years in prison for Ponzi scheme Gina Champion-Cain, 57, ran what prosecutors characterized in court as "the largest known Ponzi scheme" in the history of the Southern District of California. Author: David Gotfredson (Investigative Producer), City News Service Published: 1:44 PM PDT March 31, 2021 Updated: 6:25 PM PDT March 31, 2021 SAN DIEGO COUNTY, Calif. — A San Diego businesswoman who orchestrated a nearly $400 million Ponzi scheme, in which she took investor funds intended as loans for liquor licens...

© iStock A longtime San Diego business and real estate figure on Wednesday was sentenced to 15 years in prison for a massive scheme that defrauded investors out of nearly $400 million.  Gina Champion-Cain previously admitted to obtaining more than $350 million from investors as part of a fake liquor-license loan funding program, according to a press release from the U.S. Attorney’s Office for the Southern District of California.  Prosecutors in the case argued that Champion-Cain along with co-conspirators instead used funds from investors to “support her other businesses and her lifest...

By Rebekah Gonzalez In June 2020, a prominent San Diego "businesswoman" On Wednesday, March 31, U.S. District Judge Larry Alan Burns sentenced Champion-Cain to the maximum sentence of 15 years in prison, reports "During the hearing, several victims spoke to the judge," said Assistant United States Attorney Andrew Galvin. "Nearly 500 victims poured over $350 million into Champion-Cain's sham investment scheme. Ms. Champion-Cain did not use the money to finance liquor-license transactions, as she told investors. Rather, she used tens of millions of dollars to line her own pockets and to su...