California Woman Convicted in $2 Million Smart Ring Ponzi Scheme

Michelle Bisnoff, 59, was found guilty of securities fraud, wire fraud, and money laundering for operating a $2 million Ponzi scheme involving a fake smart ring company called Esos Rings. Bisnoff falsely claimed the venture was backed by Apple and Roc Nation to secure investments, while using funds for personal expenses and COVID-relief fraud. Investors lost approximately $1.4 million, and she is scheduled for sentencing on January 21, 2027.