US Beauty Queen Targeted Filipinos In $10M Ponzi Scheme To Pay For Lavish Lifestyle—Here's What Happened

A California beauty queen has been accused of running a Ponzi scheme, allegedly defrauding friends of millions of dollars. Reports suggest she used the stolen funds to finance her extravagant lifestyle.

The United States Attorney's Office (Eastern District of California) indicted Maria "Dulce Pino" Dickerson on charges of running a Ponzi scheme, a fraudulent investment strategy named after Charles Ponzi, who famously deceived investors in the 1920s with a postage stamp speculation scheme.

Dickerson's Deceitful Tactics

According to the indictment, Dickerson allegedly used the funds obtained through the scheme to finance a lavish lifestyle, including private jet travel to Las Vegas, designer shopping sprees, and luxurious vacations, which she frequently showcased on social media.

Dickerson, 47, a former Ms. Woman Nevada pageant winner, is accused of running a fraudulent business named Creative Legal Fundings. According to an indictment unsealed this week, she registered the company in California in 2020, falsely claiming it was associated with a legitimate business.

According to the SEC's complaint, Dickerson allegedly defrauded investors by claiming her business, Creative Legal Fundings, provided loans to attorneys for personal injury lawsuits. She promised guaranteed returns and falsely claimed to have financial backing from prominent executives, including the CEO of a multinational casino company.

The Department of Justice and the Securities and Exchange Commission (SEC) allege that Dickerson's claims were false. She allegedly operated a Ponzi scheme, promising investors guaranteed returns on loans to attorneys.

During this time, Dickerson flaunted a lavish lifestyle on social media, including private jet travel, luxury goods, and participation in adult beauty pageants. Notably, she won the Ms. Elite Nevada pageant while the alleged fraud was ongoing.

Where Did The Money Go?

Authorities allege that Dickerson's lavish lifestyle, including her jet-setting and beauty pageant appearances, was a deliberate attempt to deceive investors. According to the indictment, she used the funds she obtained to splurge on luxury items. For instance, she purchased a Mercedes-Benz GLE350 for $93,000 in 2021 and a Mercedes-Benz EQS V4 for $150,000 in 2022.

On top of that, she gambled away thousands at casinos and spent $1 million in cash on a sprawling mansion in Sacramento, which she subsequently furnished for $30,000. Authorities allege that Dickerson, a Filipina American, specifically targeted other Filipinos in her fraudulent scheme.

She used a Ponzi scheme to attract investors, promising high returns and using funds from new investors to pay off existing ones. According to the indictment, she collected approximately $10 million from 140 investors.

Last year, dozens of investors, including Filipina actress Rita Magdalena, filed a lawsuit against Dickerson in Washington to recover their investments, which ranged from $5,000 to $145,000. On Instagram, Rita Magdalena revealed that she had been a victim of the Ponzi scheme.

Magdalena mentioned that many of her friends in San Diego were also acquainted with Dickerson, lending credibility to her claims. "Never trust anyone," Magdalena wrote last year.

Dickerson now faces a staggering 31 counts of wire fraud, money laundering, and securities fraud. In contrast to a Thai conman sentenced to over 13,000 years in prison for a £120 million Ponzi scheme in 2017, the Department of Justice estimates that Dickerson could face up to 50 years in prison and nearly $13 million in fines.

"As alleged, Creative Legal Fundings' operations were neither creative, nor legal. This was nothing more than the fraud perpetrated against retail investors, many of whom were members of the Filipino-American community," said Monique Winkler, director of the SEC's San Francisco Regional Office, in a statement.