Has Erica Arceo been sentenced yet, and if she was, what was her sentence?
– Anthony, Sacramento
Erica Arceo of Sacramento was one of several defendants in a case involving Diversified Investment Consultants, an investment fraud scheme that federal prosecutors say defrauded at least 240 people out of nearly $37 million.
Erica Arceo, an in-house attorney for DMC, pleaded guilty to conspiracy and was sentenced Sept. 18 to 30 months in prison, followed by 36 months of supervised release, according to U.S. District Court online records.
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DMC was an umbrella organization for various investment clubs. Erica Arceo’s husband, Nicholo Arceo, president of a club known as Envision, also pleaded guilty to conspiracy and was sentenced to 30 months in prison and 36 months of supervised release.
Others receiving prison sentences in the case include Christopher Jackson of Elk Grove, 30 years; Michael Bolden of Sacramento, 20 years; Victor Alvarado of Sacramento, 10 years; and Garry Bradford of Sacramento, 30 months.