2 arrested in alleged $1 million California pizza franchise scam
Briefly

The California Attorney General announced the arrest of two individuals involved in defrauding victims through a fraudulent pizza franchise scheme. Victims invested between $5,000 and $150,000, believing they were purchasing stock options or franchises in Perfect Pizza. The defendants were charged with franchise and security fraud, grand theft, and aggravated white-collar crimes. Many victims were inexperienced in business, including elderly individuals and military veterans. The investigation began when a victim reported suspicious activity leading to the discovery of a larger fraud scheme involving numerous victims.
"The scheme victimized many individuals with little to no business investment experience, leading victims to believe they were becoming legitimate business owners or stockholders."
"Between 2020 and 2023, each person invested between $5,000 and $150,000, totaling almost $1 million between the dozens of people who lost money in the scheme."
Read at SFGATE
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