A federal grand jury in Fresno on Thursday indicted a Visalia woman on charges that she conspired to scam more than $1.5 million in a Ponzi scheme in which victims believed they were investing in Arizona real estate.
Obdulia Julie Leon, 44, also known as Julie Ochoa, of Visalia, was named in the 18-count indictment on charges of conspiracy, mail fraud and wire fraud. Also indicted was Bonnie Lynn Recinos, 51, also known as Bonnie Farr, of Mesa, Ariz.
Federal prosecutors allege that Recinos, who managed a financial services firm, and Leon offered people investments in a real estate business project in Arizona, promising returns of 3% to 5% interest per month. But instead of investing the money, prosecutors say the women used the money for their own business and personal use.