Tara Denise Bonelli, Wire Fraud, California 2013

Wire fraud charges have landed a Santa Cruz woman in hot water. Tara Denise Bonelli, 33, pleaded guilty to one count of wire fraud in a San Jose federal court, admitting to promoting false and fraudulent real estate investments.

According to the plea agreement, Bonelli promised investors that their funds would be used to purchase foreclosed and distressed properties for resale. However, she used those funds for personal expenses instead. The total charged loss is estimated to be over $3 million.

Bonelli was indicted by a federal Grand Jury on March 16, 2011, and was charged with 18 counts of wire fraud in violation of 18 United States Code § 1343.

The maximum statutory penalty for each count of wire fraud is 20 years in prison and a fine of $250,000, plus restitution. However, any sentence following conviction would be imposed by the court after consideration of the U.S. Sentencing Guidelines and the federal statute governing the imposition of a sentence.

Bonelli's sentencing is scheduled for June 25, 2013, at 9 a.m. before United States District Court Judge Edward J. Davila in San Jose.

The case is the result of a two-year investigation by the Federal Bureau of Investigation and the Internal Revenue Service - Criminal Investigation Division.

The prosecution is being led by Assistant U.S. Attorneys Matt Parrella and Susan Knight, with assistance from Elise Etter.

Source: https://www.justice.gov/usao-ndca/pr/santa-cruz-woman-pleads-guilty-wire-fraud