San Diego County District Attorney Summer Stephan announced felony charges today against 52-year-old Rodolfo Villareal of 4S Ranch, who is suspected of engaging in a Ponzi scheme with
multiple victims he befriended.

Villareal was charged with two counts of securities fraud, three counts of grand theft and one count of forgery, for his role in stealing $282,500 from two victims. He pleaded not guilty today
at arraignment and was ordered to not solicit or receive money for investment or loan opportunities. If convicted, he faces a maximum exposure of 10 years and eight months in prison.

“Bilking people you developed a friendship with is betrayal and a serious violation of law that devastates victims emotionally and economically,” DA Stephan said. “If there are more victims of Mr. Villareal, we encourage them to come forward.”

Investors concerned that they may be victims of this defendant are encouraged to submit complaints at: https://www.sdcda.org/preventing/consumer-protection/index

Villareal will next be in court on April 16 for a readiness conference.

This case is being prosecuted by Deputy District Attorney Tiffany Stewart.