Former Radio Host Pleads Guilty To $600K Scam
SCRANTON, Pa. (AP) - A former radio talk show host has pleaded guilty to federal charges connected to a $600,000 investment scam.
Thirty-five-year-old Jamie Lake, of Scranton, faces up to 20 years in prison and $1.2 million in fines when he is sentenced. He pleaded guilty Monday to mail fraud.
Prosecutors said Lake defrauded 33 customers of his financial services business called JPL Financial.
Federal authorities said Lake took money from investors and spent it on himself.
Lake advertised JPL through a paid radio program called "Money in Motion,'' and through daily spots called "It's Your Money'' that were widely broadcast in northeastern Pennsylvania.