The Vegas Channel scam netted woman $200,000, officials say

By Cara McCoy

Friday, March 19, 2010 | 1:40 p.m.

A Las Vegas woman was arrested earlier this week accused of bilking about $200,000 from nine alleged victims after telling them they were investing in a new local television channel, but instead spending the money on luxury items for herself.

Elizabeth Victoria DeMaria, 43, was booked into the Clark County Detention Center on Wednesday on 22 felony counts – 11 counts of securities fraud and 11 counts of theft, Nevada Secretary of State Ross Miller’s office said.

Investigators said DeMaria told the alleged victims they were investing in a venture called The Vegas Channel. The Vegas Channel, or TVC, was to be a locally themed channel available on cable, satellite and the Internet.

DeMaria allegedly gave the “investors” a choice: They could get a return of about 10 times their investment after 13 months or, alternatively, a return of 20 times their investment after 18 months, Miller’s office said.

DeMaria told the investors their money would be used to make payments on a contract TVC had with a television production company; however, investigators say the contract obligation didn’t exist.

She reportedly told the alleged victims their money would be used only to develop TVC. Her bank records, investigators say, tell a different story: The money was deposited into an account under the name Luxury Lifestyles of Las Vegas. DeMaria was the sole signatory of that account, the Secretary of State’s office said.

Miller’s office said DeMaria withrew $126,000 in cash from that account. Investigators learned that several thousand was paid to Mercedes Benz Finance and discovered that more than $11,000 was used for various retail purchases.

DeMaria is being held on a cash bail of $550,000.