WEST PALM BEACH, FL (AP) -- A Jupiter man accused of running a Ponzi scheme that scammed more than $14 million from hundreds of Haitian-American investors has pleaded guilty.
Brian Taglieri, 49, is set for sentencing in federal court on Jan 29. He pleaded guilty last week to conspiring to commit securities fraud.
Taglieri faces up to five years in prison and a $250,000 fine. He has agreed to reimburse investors.
Two other suspects also are charged in the scheme.
Authorities say the men bilked investors of $14.3 million in 2008 from their Delray Beach offices. They promised to double their clients' money every 90 days through their HomePals Investment Club. Authorities say the men raised most of their money through as many as 64 Haitian-American investment clubs.
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