Businessman Charged in Multi-Million Dollar Scam - KLFY News 10

Businessman Charged in Multi-Million Dollar Scam

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A Lafayette man pleaded guilty Friday to a scam that federal prosecutors alleged netted more than five million dollars from a group of about 100 investors in Acadiana. Herbert Fouke faces up to five years in prison on a charge on conspiracy to commit securities fraud, investment adviser fraud, wire fraud and mail fraud. A federal grand jury in 2011 indicted Fouke and businessman Richard Joseph Buswell, who pleaded guilty to a fraud charge in July.

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