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Ewa Beach Woman Faces Charges of Investment Fraud
Another ponzi scheme in Hawaii has brought federal charges. An Ewa Beach woman allegedly convinced more than a dozen Hawaii residents to invest with her. Their payments totaled more than $800,000 over a three-year period, ending last year.
According to charges filed today in Honolulu, Suzette Anguay operated the investment fraud as a business called Money Sense, which included financial planning services. Anguay appeared to prey on people who were financially vulnerable. She told victims they could pay down mortgage and credit card debt with investment returns. She promised returns of 15 to 30 percent a year.
Anguay never invested the money. She used it to pay other investors and to cover personal expenses, including her mortgage and utilities. Ultimately, 11 people lost more than $500,000.
Anguay faces one count of mail fraud. She is expected in court next week and faces up to 20 years in prison. She is the thirteenth person in three years to be charged with investment fraud in Hawaii.
(Aileen Humphreys / HPR News)