Former California Financial Advisor Indicted in $14.5 Million Real Estate Fraud Scheme

Former California financial advisor, Paul Ricky Mata, was arrested and charged with running a $14.5 million real estate fraud scheme by tricking victims to invest in his businesses and then using their money for his personal expenses. He is charged with mail fraud, wire fraud, making false statements in a bankruptcy proceeding, and other offenses. If he is convicted on all counts, he would face a maximum sentence of 295 years in prison.

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