Monterey Radio: Financial Talker Sentenced In Ponzi Scheme

Barbara Alexander

Monterey financial talk show host Barbra Alexander was sentenced to nine years in federal prison Wednesday after bilking friends and colleagues out of $6.3 million in an ongoing Ponzi scheme, according to Mercury News.

In handing down the sentence, U.S. District Court Judge Lucy Koh said Alexander, 66, showed "no acknowledgement of the victims" in a letter delivered to the court before the morning hearing began.

Alexander said she chose to file the letter, which was not read in open court, rather than speak at her sentencing hearing.

Koh gave details about some of the 49 victims who lost their retirement savings, children's college funds and even their homes when they invested tens to hundreds of thousands of dollars each in a scheme spearheaded by Alexander and aided by two Monterey-based business associates, Michael Swanson and Beth Piña.

"I just don't see in this letter true remorse and true acceptance of responsibility," Koh said. The judge said it appeared Alexander tried to put all the blame on Swanson. But Swanson and his family also lost money when they invested in the scheme, Koh said. "This really was her show."

Prosecutors asked for a 10-year prison term after Alexander was convicted of conspiracy to commit fraud in a two-week trial in February.

Alexander is the former host/producer of the internationally syndicated "Money Dots" financial talk show, aired locally on CCM+E's KION 1460 AM.

Citing flight risk concerns, Koh ordered Alexander to wear an electronic ankle bracelet until she turns herself in to federal prison officials or the U.S. Marshals Service on August 22.

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