Sacto911 blog logo

Ask Sacto 911 crime Q&A: What’s latest in case of Elk Grove man accused of real estate scam?

Published: Monday, Dec. 2, 2013 - 10:09 pm

I was defrauded by Elk Grove resident Christopher Jackson’s Ponzi real estate scam. Is there any current news on trials or settlements or anything?

– Justin, Sacramento

According to federal court online records, Christopher Jackson and four co-defendants are scheduled for trial Jan. 13 in U.S. District Court in Sacramento.

A trial confirmation hearing for Jackson, Michael Bolden, Victor Alvarado, Erica Arceo and Nicholo Arceo is set for Dec. 12.

The five Sacramento-area residents were charged in September 2011 in a $26 million real estate fraud scheme.

According to the federal grand jury indictment, the scheme took in 180 investors, many of whom pulled equity out of their houses to participate. The now-defunct company called Diversified Management Consultants Inc., or DMC, allegedly lured investors with promises of large profits but used their cash instead to pay earlier investors.

The grand jury accused Jackson of using much of his investors’ money to buy jewelry, pay for home improvements, and lease a Lamborghini and Land Rover.

Call The Bee’s Cathy Locke, (916) 321-5287.

Read more articles by Cathy Locke

Connect with Sacto911

Sacto911 Archives

Note: The Sacto911 blog switched blog platforms in November 2013. All posts after the switch are found here. Older posts are available using the list below.

Sacramento Bee Job listing powered by
Quick Job Search
Sacramento Bee Jobs »
Used Cars
Dealer and private-party ads


Price Range:
Search within:
miles of ZIP

Advanced Search | 1982 & Older