Maria “Dulce Pino” Dickerson, a California beauty queen, has found herself in hot water after being accused of running a multi-million dollar Ponzi scheme. The allegations suggest that Dickerson used the scheme to fund a lavish lifestyle filled with private jet trips to Las Vegas, designer shopping sprees, and luxurious vacations that she proudly displayed on her social media accounts.
According to an indictment unsealed this week, Dickerson, aged 47, registered a business named Creative Legal Fundings in California in 2020, the same year she won the Ms. Woman Nevada pageant. It is claimed that Dickerson’s business model was a ripoff of a legitimate business with a similar name, which she allegedly used to deceive her investors. She reportedly told potential victims that her business provided loans to attorneys for personal injury lawsuits, promising fixed rates of return. Additionally, Dickerson boasted of having financial backing from two high-powered executives, including the CEO of a multinational casino company.
However, the Department of Justice and the Securities and Exchange Commission (SEC) have revealed that none of these claims were true. Both entities have charged Dickerson with various types of fraud, alleging that she misled investors to fund her extravagant lifestyle. Despite the fraudulent nature of her business, Dickerson continued to post extensively on social media, showcasing her lavish lifestyle that included private jet travels, luxury goods, and participation in adult beauty pageants. In fact, Dickerson even managed to win a Ms. Elite Nevada pageant while allegedly running the Ponzi scheme.
Authorities claim that Dickerson’s jet-setting beauty queen persona was a deliberate tactic to deceive investors into entrusting her with their money. The indictment further states that Dickerson spent millions on personal expenses, including a $93,000 purchase of a Mercedes-Benz GLE350 in 2021, followed by a $150,000 expenditure on a Mercedes-Benz EQS V4 in 2022. She also indulged in extravagant spending at casinos and acquired a sprawling mansion in Sacramento for $1 million in cash, in addition to spending $30,000 on new furniture for the property.
Moreover, Dickerson, who is of Filipina American descent, targeted other members of the Filipino community in her deceitful practices. Authorities allege that she used new investor funds to pay off earlier investors in order to sustain the Ponzi scheme. It is estimated that Dickerson managed to amass approximately $10 million from 140 investors through her fraudulent activities. In response to these allegations, dozens of individuals took legal action against Dickerson in Washington in an attempt to recover their investments, which ranged from $5,000 to $145,000. Notably, Filipina actress Rita Magdalena was among those ensnared in the Ponzi scheme and warned others to be cautious, advising, “Never trust anyone.”
As Dickerson faces a litany of charges including 24 counts of wire fraud, seven counts of money laundering, and a securities fraud charge, the Department of Justice has highlighted the severity of her potential penalties. If convicted, Dickerson could be sentenced to up to 50 years in prison and be subject to nearly $13 million in fines and penalties. Monique Winkler, the director of the SEC’s San Francisco Regional Office, condemned Dickerson’s actions, stating, “As alleged, Creative Legal Fundings’ operations were neither creative, nor legal. This was nothing more than fraud perpetrated against retail investors, many of whom were members of the Filipino-American community.”
Despite the mounting legal challenges against her, Dickerson’s lawyer has remained silent on the matter, declining to provide any comments. As the case unfolds, it serves as a cautionary tale about the dangers of investment fraud and the importance of conducting thorough due diligence before entrusting one’s finances to any individual or entity.