San Diego's biggest Ponzi scheme | Lori Weisberg, Greg Moran - a podcast by San Diego Union-Tribune

San Diego businesswoman Gina Champion-Cain, charged a year ago with securities fraud in a civil case, pleaded guilty in federal court Wednesday to criminal charges of conspiracy, securities fraud and obstruction of justice in connection with a $400 million Ponzi scheme.

Champion-Cain, who will be sentenced Oct. 13, declined to comment to the Union-Tribune as she walked out of the courtroom, her attorney by her side. The maximum prison time for the three charges is 15 years, although Champion-Cain has agreed to cooperate with the probe into the scheme she orchestrated, which investigators are still unravelling, and that could earn her a reduction in her sentence.

Champion-Cain remains free on $100,000 bond.

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