Investment scheme goes bad


Patricia Jacoby pleaded guilty to a felony charge of wire fraud. She admitted for the first time in court the intent to defraud her victims.

Court records show got victims here in the /*Triangle*/ and throughout the United States to invest more than $2.5 million dollars in /*antiques*/.

This /*investment scheme*/ gone bad involved the /*Raleigh*/ antique shoppes called /*Posh*/! According to court documents, for more than a year, she told investors she was buying estate lots of antiques and pre-identified out of state buyers.

Whatever amount investors put in, Jacoby promised a 22% return within 30 days. Investigators say the scheme collapsed when large investors wanted their money back and there was no money to return.

Jacoby's guilty plea is part of a deal where she also agrees to pay restitution to the more than 80 victims. Victims who court documents show lost as little as a few hundred dollars all the way up to $376,000.

Jacoby's out on bond, but due back in court in June for sentencing. She's no stranger to this type of crime as she's been convicted of similar schemes twice before.

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