Minnesota Businessman to Pay $29 Million in Restitution
Minneapolis, MN (KROC-AM News) - A suburban Twin Cities man has agreed to pay almost $30 million in restitution to the victims of a nationwide magazine sales telemarketing fraud scheme.
The US Attorney for Minnesota says 51-year-old Brian James Williams of Long Lake is the first of the 60 people charged with being involved in the fraud scheme to plead guilty. 15 of the defendants are Minnesota residents.
Federal prosecutors say Williams admitted to a charge of conspiracy to commit mail fraud and now faces a sentence of up to 30 years in prison. Court records show he owned and operated several companies involved in magazine sales in Minnesota and California. It was alleged his companies used deceptive tactics to defraud elderly and vulnerable individuals by tricking them into paying for expensive magazine packages.
His sentencing hearing has not been scheduled.
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