sealSPRINGFIELD, Mo. – A Lebanon resident, Terina K. Carney, 49, pleaded guilty in federal court today to charges of wire fraud, money laundering and failure to file a tax return.

According to a release from Tammy Dickinson, United States Attorney for the Western District of Missouri, Carney stole more than $415,000 from investors. By state statute, Carney’s crimes cause her to eligible for a sentencing of up to 31 years in federal prison without parole and a fine of up to $525,000.

“Carney told investors their money would be used as an advance payment on behalf of a third-party business, in order to allow the business to continue operating while it secured long-term funding from a bank,” according to Dickinson’s release. Reportedly, Carney also promised investors high returns on their original investments. She was allegedly using the investment money to repay previous investors or for personal expenses.

Carney was the legal owner of Riverside Lease, LLC., but she never registered with the state of Missouri to be an investment adviser, representative or any other type of investment related employment.