Officials said investigators have identified more than 370 victims nationwide, many of whom lost their life savings. Designed by Freepik, www.freepik.com

 

MARYSVILLE, CA (MPG) - Federal officials announced the arrests of 15 people across California, Texas, and Florida following an extensive investigation into a $30 million telemarketing and money-laundering scheme that primarily targeted elderly Americans.

Dubbed Operation Silver Shores, the multi-agency effort uncovered what investigators described as a sophisticated transnational criminal organization posing as attorneys and government officials to defraud victims through false timeshare restitution claims.

According to the U.S. Attorney’s Office for the Eastern District of California, the organization contacted victims by phone and email, claiming they were entitled to receive compensation from class-action settlements. Victims were then asked to pay upfront “processing fees” or “legal taxes” to release the funds — money that was never returned.

“The indictment announced today exposes a telemarketing scam that deliberately targeted our vulnerable elderly citizens and yielded more than $30 million in devastating financial losses to victims across the country,” U.S. Attorney Eric Grant said. “But my office will relentlessly pursue justice, hold fraudsters accountable, and work tirelessly to safeguard seniors from such predatory schemes.”

Among those arrested was Maira Liset Chavez, 36, of Marysville, along with eight other California residents, including Piera Salgado Teleki, 34, of Berkeley, Sergio Madrigal Lacayo Jr., 39, of Stockton, Celina Martinez, 44, of San Jose, and Antonio Palafox Aguilar, 33, of Fresno.

The investigation also led to arrests in Texas and Florida, where members allegedly helped move stolen funds through fake companies and cryptocurrency exchanges to obscure their origins. Federal agents said the group used a “complex web of shell companies and layered transactions” to conceal the proceeds, funneling money to accounts across the United States and Latin America.

Special Agent in Charge Sid Patel of the FBI Sacramento Field Office said the operation highlights a new and troubling shift among criminal groups.

“The Norteños and their affiliates arrested today are moving into sophisticated financial crimes targeting our communities’ most vulnerable — the elderly,” Patel said. “This takedown sends a clear message: we will not tolerate criminals exploiting our communities.”

Officials said investigators have identified more than 370 victims nationwide, many of whom lost their life savings. More than $1.5 million in victim funds has been recovered so far, and federal agents are continuing to trace and seize additional assets.

Linda Nguyen, Special Agent in Charge of IRS Criminal Investigation in Oakland, said agents worked to follow the money trail through complex financial layers.

“The defendants orchestrated a multi-million-dollar fraud scheme by deceiving victims into believing they were entitled to restitution from a timeshare lawsuit,” Nguyen said. “Let this serve as a clear warning to fraudsters that financial crimes will lead to arrest and prosecution.”

Investigators say the organization also sought to evade detection by using smaller financial institutions and online money-transfer services believed to have weaker anti–money laundering safeguards. According to the indictment filed in U.S. District Court for the Eastern District of California, the group routinely misrepresented its business activities when questioned by banks and payment processors

Additional assistance came from the U.S. Postal Inspection Service, which helped track fraudulent correspondence sent through the mail. Inspector in Charge Stephen Sherwood commended the teamwork among agencies, saying, “Postal customers face victimization from increasingly complex and organized criminal enterprises, which is why teamwork like today’s operation is so important..”

If convicted, the defendants face up to 30 years in prison for wire fraud and 20 years for money laundering, along with substantial fines. Prosecutors emphasized that all charges are allegations and that the defendants are presumed innocent until proven guilty in court.

The case was prosecuted under the Organized Crime Drug Enforcement Task Forces (OCDETF) initiative, which targets high-level criminal networks threatening U.S. communities. It was also supported by the California Homeland Security Task Force, part of the federal Operation Take Back America program — a nationwide initiative to dismantle cartels, transnational criminal organizations, and violent networks operating within the United States.

Assistant U.S. Attorneys Jeffrey A. Spivak and Cody S. Chapple are leading the prosecution.