Female financial planner arrested for alleged ponzi February 3, 2009Posted by whitecollarcrimenews in News.
Tags: Crime, Fraud, Law, Madoff, mail fraud, News, Ponzi scheme
Judith Zabalaoui’s case may seem like every other ponzi scheme that has made the news over the past few months. However, the fact that she is female and there are no males involved that she was working for makes her case very unique. Unfortunately for her, I doubt this will really help her out here.
Like many of the other cases out there, the first sign of trouble involved a law suit. She is also 71 which, like some of the other cases, make plea deals rather difficult to work out since 10 years could be a life sentence. She is alleged to have stolen over $3 million from 1993 to 2007.
Another interesting aspect of her case is that the evidence against her seems to be incredibly strong. At least Madoff and others had companies. Prosecutors allege that her companies were fake and she even crafted fake letters between herself and fake employees! That is so incredible that I would want to have her head examined. While mental health issues may not prevent a conviction, it can be used in mitigation. Most criminals take advantage of her situation but for an older female to go to this length to pull off a scam like this is rather unique.
Story is here.