BBC Equities CEO Pleads Guilty In $50M Fraud Case

Law360, New York (October 13, 2011, 6:55 PM EDT) -- Federal prosecutors on Thursday said that the CEO of Michigan-based BBC Equities LLC pled guilty to one count of wire fraud in connection with a real estate scheme that allegedly bilked investors out of $50 million.

In a plea agreement filed in Michigan federal court, Richard J. Trabulsy faces between 27 and 33 months in prison and a potential fine of between $6,000 and $60,000. He also could be forced to pay over $559,000 in restitution.

In exchange, Trabulsy agreed to cooperate with prosecutors as they...
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