A Ventura County woman is accused of running an elaborate investment fraud operation.
Ventura County prosecutors say Terri Ann Petty of Newbury Park solicited investors with false claims, and made promises of huge returns. But, they say she used the money for living expenses, and failed to make returns on investments as promised. Investigators say the losses could be in the hundreds of thousands of dollars.
The 51 year old woman is facing securities fraud, elder fraud and grand theft charges. If convicted, Petty could face more than seven years behind bars.
