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Pennsylvania Man Pleads Guilty to Role in $17.6 Million Investment Fraud

Bloomberg – A Pennsylvania man admitted to his role in a $17.6 million Ponzi scheme that defrauded more than 260 investors.

Robert Stinson Jr., 56, of Berwyn, pleaded guilty in federal court in Philadelphia today to 26 charges, including wire fraud, mail fraud,money laundering and bank fraud, the Justice Department said in a statement. There was no plea agreement, according to the plea memorandum.

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