Instructions: In this task, you are given a text of many news articles seperated by special token "|||||". Your task is to summarize them.
Input: Los Angeles County Sheriff's Department investigators have arrested three former Diamond Bar elementary school PTA members in connection with an alleged ponzi scheme that defrauded more than 40 people out $1 million. 
  
 Maricela Barajas, 41, and Juliana Menefee, 50, both of Diamond Bar were arrested Tuesday at their homes. Also arrested in the case was Eva Perez, 51, who serving an 11-year state prison sentence after pleading guilty in San Bernardino County court last year to multiple felony counts of grand theft in connection with the same scheme. 
  
 Barajas, Menefee and Perez each face at least 20 counts of grand theft and securities fraud. If convicted on all counts, each faces up to 20 years in state prison, authorities said. 
  
 As members of the the Armstrong Elementary School PTA, the women were able to gain the trust of many of their victims during school events and at social functions, said Los Angeles County Sheriff's Capt. Mike Parker. 
  
 The victims believed they were investing in the AltaDena Dairy company, a firm the women said would get high rates of return because they had exclusive rights to distribute those products at Disneyland, Disney Hotels and to small retailers, Parker said. |||||  
  
 MARICELA BARAJAS 
  
 JULIANA MENEFEE 
  
 EVA PEREZ 
  
 DIAMOND BAR - Three former members of a local PTA were arrested for allegedly running an investment scam that defrauded more than 40 people out of millions. 
  
 Investigators said the suspects earned the trust of their victims as members of the Neil A. Armstrong Elementary School PTA in Diamond Bar. 
  
 Two of the suspects, 41-year-old Maricela Barajas and 50-year-old Juliana Menefee, were arrested Tuesday at their Diamond Bar homes. 
  
 The third suspect, 51-year-old Eva Perez, is already serving an 11-year sentence in prison for a fraud case in San Bernardino County. She is facing additional charges from this case. Deputies said she has residences in Chino and Diamond Bar. 
  
 The arrests came after a six month investigation by the sheriff's Commercial Crimes Bureau. 
  
 The suspects allegedly claimed to have the exclusive rights to sell AltaDena Dairy products at Disneyland, Disney Hotels and to small retailers and promised investors returns of up to 100 percent. 
  
 About $14 million was collected during the scheme from 2008 to 2010. Of that an estimated $10 million was returned to investors to keep new money coming in while the suspects allegedly kept about $4 million, according to investigators. 
  
 Detectives think the suspects used the money on lavish vacations, expensive hotels, new cars, and at casinos in California and Nevada. 
  
 None of the money has been recovered. 
  
 The alleged scheme started to unravel when the investors pressed for 
  
 Advertisement 
  
 payment. 
  
 Detective said the suspects organized meetings and attempted to pacify investors by explaining the delays in payment were a result of an internal audit of the business. By then one of the victims reported the scheme to the sheriff's Walnut/Diamond Bar station. Sheriff's officials said many of the investors took out second mortgages on their homes, maxed out their credit cards and invested their life savings. All transactions were done in cash and the losses ranged from $5,000 to $208,000. 
  
 The victims came from all over the Southland: Chino, Diamond Bar, Gardena, Granada Hills, Lawndale, Los Angeles, North Hollywood, Norwalk, Pacoima, Pico Rivera, Pomona, Rancho Cucamonga, Redondo Beach, Riverside, San Bernardino, Santa Fe Springs, South Gate, Torrance, Whittier, Wilmington, and Salt Lake City, Utah. 
  
 Barajas and Menefee were being held at the sheriff's San Dimas station in lieu of $500,000 bail. Both are scheduled for a Wednesday arraignment at Pomona Superior Court. 
  
 — From staff and wire reports |||||
Output:
Look out, Bernie Madoff: A trio of mothers in a well-to-do suburb of Los Angeles have been charged with scamming other parents out of millions. Police say the women, all members of an elementary school PTA, ran a $14 million Ponzi scheme by simply winning the trust of victims at school events and social functions, the Pasadena Star-News reports. Prosecutors say the suspects, who promised investors very high rates of return, paid out $10 million to keep new investors coming in and kept around $4 million for themselves. "Like all ponzi or pyramid schemes, they ran out of people to provide an infusion of cash to keep things going and they collapse(d)," an LA County Sheriff's spokesman tells the LA Times. Investigators say many of the 40-plus victims lost their life savings. The moms have been charged with multiple counts of grand theft and securities fraud and face up to 20 years each in prison if convicted.