Toronto woman at heart of lipstick Ponzi scheme gets four years in prison and $610K fine

An Ontario woman, Glenda Marie Esteves, was sentenced to four years in prison and fined $610,856 for operating a Ponzi scheme disguised as a lipstick business, defrauding victims of nearly $5 million. Esteves, who pleaded guilty to multiple charges, claimed to produce lipsticks using forged documents to attract investments, causing significant financial and psychological harm to her victims, many from her Filipino community.

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