Posted: 7:11 p.m. Wednesday, Nov. 6, 2013

Issaquah woman accused of duping her friends in Ponzi Scheme

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Issaquah woman accused of duping friends in Ponzi Scheme photo
Issaquah woman accused of duping friends in Ponzi Scheme

By David Ham

SEATTLE —

King County prosecutors say that 39-year-old Sorin Rivera convinced seven people to let her invest $347,000 of their money.

The alleged victims ended up losing $183,000 of the money they trusted Rivera to invest for them.

Jennifer Klock lost $2,400.

"She was very convincing, got a very warm fuzzy attitude," said Klock, who met Rivera when her name was Valerie D'Andrea.

She changed her name to "Sorin Rivera" after she filed bankruptcy in 2008.

Prosecutors said the victims include friends, family, a college classmate and even her softball team members.

Investigators said she ran the scheme from 2004-2008 by keeping her operation afloat by paying off old investors with money from new investors

"She offered such an incredible rate of return that she invested," Klock said she offered up to a  55 percent return on an investment.

Rivera slammed her door when we went to ask her about the alleged Ponzi scheme at her house in Issaquah.

Proscutors also found that Rivera never worked for a securities or commodity firm.

Despite facing felony charges for securities fraud and theft, she lists "Equity Options Trader" as her occupation on her Facebook page.

Rivera will be arraigned at the King County Courthouse on Nov. 13.

If she doesn't show, a warrant could be issued for her arrest.

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