Woman Pleads Guilty in Charlotte to Ponzi Scheme Involvement

ponzi_scheme_1A Colorado woman has entered a guilty plea in Charlotte in Federal Court Tuesday for her involvement in a Ponzi scheme resulting in $7 million in which investors only received a fraction of it.

Kristine Johnson plead guilty to conspiracy to commit wire fraud and admitted she had a part in the scheme working as an online investment group, which was called The Achieve Community.

Before being shut down by federal regulators, the group made $6.8 million between the months of January 2014 and February 2015, prosecutors said.

Over 10,000 investors were in the scheme, including some located in Charlotte. The group paid $2.1 million to those who had been a part of the scheme at the beginning. However, most investors didn’t receive any money at all.

Prosecutors also say $200,000 was diverted by Johnson to herself.

Johnson could be facing a $250,000 fine and up to 20 years in prison. She was released Tuesday on bond of $25,000.

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