A San Diego entrepreneur, restaurateur and real estate mogul has pleaded guilty to mastering a $400 million Ponzi scheme that has claimed hundreds of lives by promising to use their money to lend to entrepreneurs trying to buy liquor licenses in California. Champion-Cain, once known for his collection of patio restaurants, has yet to be jailed, and his conviction, originally scheduled for this week, has been postponed until January 19. While she faces a 15-year prison sentence, she is also cooperating with federal prosecutors in her ongoing investigation, which is part of a plea that could extend her sentence well beyond next January. Crispin Torres, the former chief financial officer of American National Investments, also pleaded guilty today to conspiring in the program by using investor funds to support other Champion-Cain companies, some of which failed. After his guilty verdict, Champion-Cain and his lawyer left the San Diego courthouse. NBC 7 Reporter Artie Ojeda asked Champion-Cain if she had any comment on her admission to lead what U.S. Attorney General Robert Brewer called “the largest Ponzi scheme discovered in this district.” Under the plea agreement, Champion-Cain used at least $60 million in investment funds to cover expenses in their businesses. In addition, funds were used to pay for residences in Mission Beach and Rancho Mirage, at least $2 million to pay their own wages to American National Investments, and hundreds of thousands of dollars were spent on sporting events, cars, credit card bills, jewelry and more. To cover their scheme, Champion-Cain would prevent the fiduciary from interacting with investors. In an email to the trust company, Champion-Cain wrote: “I have always promised you that I will protect you from my crazy investors…

If any of them bug you because they are too stupid to understand the program, they are “fired” as an investor. I have a lot of guys who die to give me money, honey!!! Ahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha 😀 hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha Love you, ladies! “,” says the plea. Crispin Torres, a former chief financial officer of American National Investments, was also convicted. As a result of the Attorney General`s advocacy, the liquor licensing program has reduced the hundreds of individuals and institutions that invested more than $400 million between 2012 and 2019. Celebrities of San Diego businesswoman Gina Champion-Cain pleaded guilty Wednesday to securities fraud, conspiracy and obstruction of justice for investors of $400 million fraud through a Liquor license financing program. According to the SEC, Champion Cain told investors at American National Investments, Inc., that they have a return on any license that has been approved, but admitted to the court that it was not. Instead, she fabricated documents and used the money to finance her other businesses, such as The Patio-Ketterestaurants, and to support their wasted lifestyle. It has spent more than $2 million to pay more than $2 million in cumulative salary since 2012, and spent more than $640,000 on boxing seats at the San Diego Padres Games, more than $200,000 for boxing seats at the San Diego Charges games, at least $745,000 for paying his credit card bills and hundreds of thousands of dollars for cars, jewellery and similar luxury items.