Santa Clarita resident and film director Dror Soref and former state registered insurance agent Michelle Seward were back in court today to continue the preliminary hearing for Ponzi scheme allegations.

California Department of Insurance officials claim Soref worked with Seward in selling sale securities that did not meet Corporations Code requirements after tricking investors in Kern and Los Angeles counties out of $21 million.

Seward had even talked clients into surrendering annuities early and paying large penalties by promising returns between 10 percent and 18 percent.

Investors who surrendered their annuities paid more than $600,000 in penalties and fees for early withdrawal, according to officials.

Both Soref and Seward will return to court on Tuesday, Nov. 15. to continue their trial.