BALTIMORE (AP) — A Texas accountant has pleaded guilty in Maryland to participating in a scheme to defraud investors of hundreds of millions of dollars.

U.S. Attorney Robert Hur’s office says in a news release that 55-year-old Jay Ledford pleaded guilty Thursday to charges including conspiracy to commit wire fraud and aggravated identity theft.

Hur’s office says the charges stem from a $550 million investment fraud scheme that operated from 2013 through September 2018.

Two other people — 53-year-old Kevin Merrill of Towson, Maryland, and 28-year-old Cameron Jezierski of Fort Worth, Texas — previously pleaded guilty to charges related to the Ponzi scheme.

Related Coverage:

Hur’s office says Ledford provided Merrill with fictitious sales agreements and false tax returns to solicit investors to purchase consumer debt portfolios.

Ledford is scheduled to be sentenced Oct. 29.

(© Copyright 2019 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


Leave a Reply