Va. Man Pleads Guilty To $8.9M Investment Fraud

Law360, New York (April 12, 2011, 9:50 PM EDT) -- A Virginia businessman pled guilty in a federal court Monday to charges related to his role in an allegedly fraudulent $8.9 million investment scheme.

Julius "Bud" Johnson, 62, pled guilty in the U.S. District Court for the Eastern District of Virginia to one count of conspiracy to commit mail, wire and bank fraud and one count of engaging in unlawful monetary transactions, according to a statement by the U.S. Department of Justice. The Richmond resident, scheduled to be sentenced July 19, faces up to 15 years...
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