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Johanna Garcia ready to change plea in $200M MJ Capital fraud case


johanna garcia


The MJ Capital saga is winding its way through the court system with the latest updates from Johanna Garcia's case in late June being a Notice of Change of Plea hearing scheduled for July 9th. Since an update on April 29th revealed Garcia was trying to reach a resolution with the government, it stands to reason that they may have come to some agreement that she will plead guilty as one of the other parties involved already has.


If you aren’t familiar with the case, Johanna Garcia, Pavel Ramon Ruiz Hernandez, and others are accused of misleading investors in merchant cash advances in what the prosecution says amounted to a Ponzi scheme. Ruiz Hernandez pleaded guilty to conspiring to commit wire fraud and then was sentenced to 110 months in prison. Garcia is looking at least that amount since she was the ring leader.

johanna garcia
Pavel Ramon Ruiz Hernandez

Here are the updates from the website of the Receiver in the case:

6/23/24 – In the United States of America’s criminal case against Johanna Garcia (Case No. 23-20350), the Court has reset the Notice of Change of Plea Hearing to July 9, 2024 at 11:30AM before the United States District Judge Jose E. Martinez.


6/14/24 – In the United States of America’s criminal case against Johanna Garcia (Case No. 23-20350), the Court has entered a Notice of Change of Plea Hearing, and set the Change of Plea Hearing for June 24, 2024 at 11:30AM before the United States District Judge Jose E. Martinez.


4/29/24 – In the United States of America’s criminal case against Johanna Garcia (Case No. 23-20350), Garcia filed a motion seeking to continue trial because Garcia’s counsel is attempting to reach a resolution with the government and working through the voluminous discovery. United States District Judge Jose E. Martinez entered an order granting the motion, and resetting trial to a two-week trial period starting June 3, 2024 at 9:30 AM, and scheduling the calendar call for May 30, 2024 at 1:30 PM. You can view the motion and order on the Court Documents page.


How much money has been recovered?

As of March 28, 2024, the receivership estate has a balance of approximately $14.6 million, and the Wells Fargo settlement fund has a balance of approximately $20.28 million. These amounts will change based on expenses and fees paid, and additional amounts recovered.


How many claims have been filed against the Receivership and Wells Fargo settlement fund?

In total, approximately 14,188 claims have been filed against the receivership estate and the Wells Fargo settlement fund for an estimated total of $264 million.


Johanna garcia

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