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DENVER (KDVR) — The U.S. Attorney’s Office for the District of Colorado announced Wednesday that two women were indicted by a federal grand jury in a multi-million dollar fraud scheme.
Chrisheena Shante McGee, 47, also known as Christina Marius; and Sandra Pierce Bacon, 71, were indicted on 12 counts of wire fraud and aiding and abetting wire fraud, according to a release.
The fraud took place in Colorado and elsewhere from May 2019 to March 2021, according to the indictment. During that time, McGee, Bacon and others were part of a “scheme to defraud and to obtain money and property from victims,” the release read.
McGee falsely represented that she had access to large amounts of money to fund loans of up to $150 million to others. She allegedly represented that she would get the loan money if victims would pay a fee in advance, which was often 10% of the total loan amount.
Those fees were paid to an account managed by Bacon. McGee and Bacon would tell victims that they would hold those fees to secure the loans until the loans were funded, according to the release.
At least 10 victims agreed to pay approximately $14,801,002.75 in advance fees alone.
Then, McGee and Bacon would use those funds for other purposes like purchasing property and repaying earlier victims. The release described the scene as a “Ponzi-like fashion.”
The FBI is investigating the case, which is being prosecuted by Assistant U.S. Attorney Craig Fanslwer.
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