Pair Is Sentenced for Pyramid Scheme
A woman was sentenced to 12 years in state prison Friday and her stepfather was given five years’ probation for operating an elaborate pyramid scheme that stole more than $2.5 million from working-class Latino families throughout Southern California.
Joan Frederick, 30, and Felix Navarrete, 70, were found guilty in October of grand theft and operating an “endless chain scheme” for nearly two years through a telecommunications company called La Luz de Oro (or, Light of Gold).
Los Angeles police say as many as 16,000 people may have paid for memberships with the Panorama City-based company, lured by the promise of cars, homes and other prizes.
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