Financial Advisor/Radio Host To Plead Guilty Of Fraud
December 31, 2009 at 7:37 AM (PT)
Investment adviser and former radio host of the brokered "Your Money" program GREGG RENNIE of is expected to plead guilty to stealing more than $3 million from clients. Sentencing has been scheduled for JAN. 13th in U.S. District Court in BOSTON.
In OCTOBER, RENNIE was charged with defrauding his clients at several financial companies by selling bogus "federal housing certificates" that promised a guaranteed rate of return. Prosecutors told THE PATRIOT LEDGER that the scheme began in late 2007 and continued until JANUARY,
The SEC earlier charged him with fraud in the connection the same matter; in MAY, a federal judge fined him $500,000 and ordered him to pay back his clients’ funds.
RENNIE had previously hosted a financial-advice show on four MASSACHUSETTS radio stations.