Ewa Beach woman sentenced for Ponzi scheme - Hawaii News Now - KGMB and KHNL

Ewa Beach woman sentenced for Ponzi scheme

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HONOLULU (HawaiiNewsNow) - An Ewa Beach woman who swindled investors in a Ponzi scheme is heading to prison. She faced her angry victims in a courtroom on Monday afternoon. A federal judge told Suzette Anguay that she not only stole the investors' money, she stole their dreams. Anguay did apologize during the sentencing, but did not face her victims.

She covered her face as she left the courthouse. Anguay received a maximum sentence of 46 months. The judge also ordered her to pay $510,000 in restitution, but the victims don't expect to get their money back since she doesn't have any assets.

Under a plea deal in August, she confessed to mail fraud, scamming 15 local investors of $800,000 between 2007 and 2010. Many of the victims were parents of children who played in Ewa Beach's pop warner football league. According to authorities, she promised the families yearly profits of up to 30 percent, but now they're financially ruined and dealing with debt.

"She said that she could help us with our college fund by taking the money out of our house. He's not able to go to college now. We can't afford it," said victim Danny Badiang about his son.

"My brother took a second tour in Afghanistan to help so we don't lose the house," said victim Marlene Melendez of Mililani.

"We lost not only our money which was basically almost our entire 401K, but we lost, like I said in there, we lost a lot of our dignity, we lost my family, we lost our good name, we lost our credit," said victim Carolyn Genovia.

Authorities said Anguay spent the investments on credit card debt, Las Vegas vacations, and payments to some victims to keep the scam going. She must surrender on January 21.

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