Guilty Plea for Fraud Scheme
Guilty Plea for Fraud Scheme Save Email Print
NORFOLK, Va. (AP)
Posted: 11:25 AM Oct 3, 2008
Last Updated: 11:25 AM Oct 3, 2008

A | A | A

A man accused of bilking investors of $1.4 million is now facing up to 20 years in prison after pleading guilty to federal fraud charges in Norfolk.

Benjamin J. Seigler pleaded guilty Thursday to four counts of mail fraud, admitting he operated an investment scheme from October 2007 through March. He also agreed to give up more than $1.2 million in cash and property.

Authorities say Seigler enticed about 4,000 investors by claiming to be a successful investor and pastor. But instead of investing any money, he put it in credit union and kept piles of cash in his apartment.

Prosecutors estimate Seigler took in $1.4 million in five months, while his investors never got any returns.

Seigler is scheduled to be sentenced February 12.

More Stories
Deadly Plane Crash In Steeles Tavern

City of Staunton Celebrates the Forth of July

Harrisonburg Forth of July Celebrations

Downtown Harrisonburg Celebrates with "Valley Fourth"

Grill Sales Up for the Fourth

Lake Safety

State Police Investigate Hit-and-Run

Strong Sedative Found in Michael Jackson's Home

Post Your Comments
First Name:
Location:
Enter Comments: characters left
Email (optional):
By posting this comment I have read and agree to the Terms of Use and Privacy Policy:
You must agree to the Terms of Service to continue.
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled. Click here for a free download of the latest Adobe Flash Player.
National AP Video
WHSV Poll
Do you think online classes offer enough experience for people applying for a permit to carry a concealed weapon?

Yes
No
Not Sure