Chicago retirement planning adviser charged with fraud

 
 
Posted10/11/2018 7:00 AM
hello

CHICAGO -- A Chicago-area retirement planning adviser faces federal charges for allegedly defrauding older clients out of more than $2.5 million.

A statement from Chicago's U.S. attorney's office says those targeted by 55-year-old Lucita Zamoras were frequently immigrants.

Zamoras allegedly told investors through several of her Niles-based companies that their money would go into low-risk investments. But prosecutors say she spent it on business and personal expenses, including to gamble and to buy airline tickets.

Prosecutors say Zamoras tried to hide the fraud by using newly raised funds to make Ponzi-type payouts to those who invested earlier.

Zamoras, a Chicago resident, is charged with one count of mail fraud. A conviction carries a prison sentence of up to 20 years. Her lawyer didn't immediately return a message seeking comment.

Article Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.