A San Diego woman thought she had found the investment of a lifetime, but ended up losing her life savings.
Maria Magdaleno said she worked very hard to save every cent she could for ten years. She told us she dreamed of buying a home, so when a friend told her about a financial opportunity that would earn her more money than she makes in a year, she jumped at the opportunity.
“I said, ‘Wow, when have I ever made $100,000 in a year?’ And I said, ‘Great’,” Magdaleno told us in Spanish.
The contract Magdaleno signed with Inventis Ventures in September of 2022 shows she loaned the company $20,000 in cash. She was promised $107,000 in return a year later.
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In January 2023, she decided to invest even more money. That contract shows she loaned Inventis Ventures $10,000. She was supposed to be paid $1,500 a month for a year. At the end of the year, she would get her $10,000 back. Magdaleno said she got two monthly payments and then… nothing.
She drove to their office in Orange County where she said dozens of other people were asking for their money as well. She said they waited for hours but left with nothing.
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Magdaleno told us an employee at Inventis Ventures told her the bank froze their accounts but they thought they would have access to the funds soon.
Nearly two years later, Magdaleno is still waiting.
NBC 7 Responds found several lawsuits against Inventis Ventures in San Deigo and Orange Counties. Nearly two dozen investors say they are owed more than $2.3 million. At the time this article was published, the company had not filed any responses to the lawsuits.
We tried reaching Inventis Ventures ourselves, calling every number we could find, sending text messages and emails, and even driving to their office in Tustin, which is now empty.
We didn’t see a license for Inventis Ventures or its owner with the California Department of Financial Protection and Innovation. We asked if there was an investigation and were told they couldn’t comment.
How to protect your investment
We showed Magdaleno’s contracts to CETYS University professor Deyanira Mitzuko Adame. She told us it appears to be a Ponzi scheme. She said one red flag is the promise of big profits in return for doing nothing.
“So you invest your money and when you receive the profit, the profit is because somebody else invests in the company and borrows that money or steals that money and gives it to you.”
So how can you protect your money when investing?
- Beware of opportunities that sound too good to be true – they probably are.
- Only do business with well-known, reputable companies.
- Verify that the person or company you are giving your money to is properly licensed.
- Do an internet search to see if there are complaints from other investors.
You can file a complaint with DFPI and FINRA.
