Officials: Bergenfield woman admits to defrauding customers of over $300K in social media investment scheme

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A businesswoman admitted to running a social media investment scheme where she made hundreds of thousands of dollars off her victims, according to court documents. United States Attorney William Ihlenfeld announced that 38-year-old Diana Mae Fernandez, of Bergenfield, admitted to wire fraud. Officials say Fernandez used two of her businesses to defraud her customers by taking their money and promising big returns on investments she claimed were "no-risk" and "guaranteed" investment opportunities. According to court documents, Fernandez, also known as "Diana Fernandez Koporan," "Dana Fernandez," and "Dajana Ko," operated purported investment firms known as "The Self Made Success" and "Diana Mae K., LLC." Her business “Diana Mae K” is based in New Jersey. Fernandez would use investor funds to pay for her living expenses and pay back prior investors in “Ponzi-like payments,” according to court documents. Multiple victims were defrauded. At least 20 investors contributed $364,000 through the fraudulent offer and sale of securities, court documents state. Officials say Fernandez used the money she stole for her personal benefit and made false claims about why returns on investments could not be provided to her clients. "We should always approach investment opportunities that promise high returns and no risk with skepticism," Ihlenfeld said. "One way to protect yourself before investing is to use the FINRA BrokerCheck, a valuable tool that's free and allows you to research the background and experience of financial brokers, advisers, and firms." The FBI investigated the case. Fernandez faces up to 20 years in prison. "