Carl R. Todd , 58, of Raymore, pled guilty Wednesday in federal court to participating in a conspiracy to commit wire fraud.
Todd, by pleading guilty, is admitting to being involved in a nationwide Ponzi scheme in 2004.
Thirty one victims were convinced by Todd to invest in his ” Fractional lending” program. The total investment was $2,233,411 after returning $348,842 to complaining investors.
Under the plea agreement, Todd is ordered to pay the $2,233,411 to the government.
Todd could be sentenced to five years in prison and pay an additional fine up to $250,000.