The couple operated Arellano's Financial Services in Blue Island for more than 10 years. They offered 15 percent interest rates on certificates of deposit, falsely telling customers their investments were federally insured.
Prosecutors said the couple had hundreds of customers, many of whom had invested well over $100,000 each.
Prosecutors said SanJaunita Arellano was the mastermind of the scheme. She apologized to the judge for taking her time. Cannon rebuked the woman, saying she should apologize for scamming seniors out of their retirement money.
