Boston Financial Host Pleads Guilty To Fraud
January 14, 2010 at 12:01 PM (PT)
As expected, former BOSTON-area financial talk host GREGG RENNIE entered a guilty plea to 13 counts of securities fraud and one count of wire fraud. RENNIE, who hosted "YOUR MONEY" on four BOSTON-area stations, including WBIX-A, allegedly stole $3.2 million from his victims in what prosecutors charged was a Ponzi scheme, with some investors paid with others' money. He faces up to 20 years in prison, but a plea arrangement with the U.S. attorney's office may reduce the sentence to eight years.
Sentencing is scheduled for APRIL 12th.