Lubbock mom to prison federal bank fraud charge linked to disabled son

A federal judge told a 61-year-old woman who stole Medicare money meant for her severely disabled son that her case showed a level of cruelty and brutality he’d never seen in typical bank fraud cases.

Before handing down a 17-year federal prison sentence, U.S. District Judge Wesley Hendrix told Judy Terecia Sanchez, that she betrayed her role as the one person who had the duty to care for her son, who was left quadriplegic, blind and bedridden after a shooting in 2009.

Instead, she prioritized money over his wellbeing, subjecting him to prolonged suffering and isolation.

“You robbed your own son of the very care and protection he needed,” Hendrix…

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Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”

• Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
• Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
• Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.