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.