SACRAMENTO (KGTV) — A California businesswoman accused of running a multi-million dollar Ponzi scheme has changed her plea to guilty.
Maria Dulce Pino Dickerson admitted to one count of wire fraud and one count of securities fraud in federal court this week.
Prosecutors say Dickerson lured 156 investors — including people in San Diego — to contribute more than $10 million to her scheme through false promises.
Investors say they gave money to Dickerson's company, Creative Legal Fundings, which claimed to invest in accident attorneys and finance law firm activities. She promised investors at least a 10% rate of return per month.
Instead, prosecutors say she used the money to lead a lavish lifestyle that included vacations, gambling, travel on private jets, and high-end car purchases. She also bought a home in Sacramento, according to federal authorities.
A community targeted
Some victims say Dickerson used her Filipino culture to befriend potential investors.
In 2023, some victims told ABC 10News anchor Melissa Mecija that Dickerson spoke Tagalog, attended Filipino community events and built personal relationships before soliciting investments. Geraldine Bartleson, a military spouse and plaintiff in an ongoing civil case, said she invested roughly $80,000 — including her mother's life savings.
"Stop all the lies, and just give people the money," Bartleson said at the time.
Attorney Audie De Castro, who represented more than 30 plaintiffs in the civil case, said he believed the scheme was criminal from the start.
"I don't believe there's any legitimate business. I don't think there is such a thing as investing in accident attorneys and getting a rate of return of 10%. That's an outright lie," De Castro said in 2023.
De Castro said the case is scheduled to go to trial early next year.
Victims respond to the guilty plea
Ryan and Gemma Smith, who are among the victims and have spoken with ABC 10News over the past couple years, say hearing the word "guilty" brings some relief — though they are disappointed that so many of the original charges were dropped.
Dickerson initially faced a 32-count indictment in federal court. She ultimately pleaded guilty to two counts.
"This is a woman that took friendship and manipulation to a whole extreme level to take advantage of people,” Ryan Smith said.
“I hope and I pray that this outcome would reinforce that actions have consequences, and that victims deserve to be heard and protected, and they should never be afraid to speak up," Gemma Smith added.
What comes next
Dickerson faces a maximum penalty of 20 years in prison for the wire fraud count and 20 years for the securities fraud count, in addition to millions of dollars in fines.
Her sentencing is scheduled for July.
Dickerson’s attorney did not respond to a request for comment.
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