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Ask Sacto 911 crime Q&A: Has defendant been sentenced in investment fraud scheme?

Published: Thursday, Sep. 4, 2014 - 9:14 pm
Last Modified: Thursday, Sep. 4, 2014 - 10:57 pm

You wrote an article on Victor Alvarado. Was he sentenced?

– Roger, Sacramento

Victor Alvarado is one of several defendants in a federal case involving an investment fraud scheme known as Diversified Management Consultants, or DMC.

He and others have pleaded guilty to charges of conspiracy, wire fraud and false statements.

According to U.S. District Court online records, a judgment and sentencing hearing for Alvarado, along with Christopher Jackson, Michael Bolden, Erica Arceo and Nicholo C. Arceo was continued from Aug. 15 and is now set for Sept. 12. Jackson was the only one of the five who went to trial and he was convicted by a federal jury in January.

According to court documents, between 2003 and 2009, DMC purported to help people invest money in real estate development and save their homes from foreclosure. In reality, authorities said., DMC was an investment fraud scheme that defrauded at least 180 people out of approximately $36.9 million.

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

Read more articles by Cathy Locke

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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.

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