Lake Forest Man Pleads Guilty in Scam
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SANTA ANA — A Lake Forest investment adviser pleaded guilty Monday to four counts of securities fraud in connection with a scam in which 61 investors were bilked of $1.8 million, the U.S. attorney’s office said.
Authorities said Randall C. Hutchens, 40, could face five years in prison and a $250,000 fine for each count to which he pleaded guilty. He will be sentenced May 23.
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