New York man admits defrauding 3 victims of $870,000
BUFFALO, N.Y. (AP) — A western New York man has admitted to cheating three would-be investors out of $870,000.
The U.S. Attorney’s Office in Buffalo says 41-year-old Raymond Clark pleaded guilty Monday to wire fraud and money laundering.
Investigators say he induced three victims to send money for supposed investments but instead kept the money for himself.
As part of his plea agreement, he’s to pay the money back.
Clark faces up to 20 years in prison when he’s sentenced Nov. 15.