A man has pleaded guilty in Vermont federal court to charges connected to a scheme to defraud hundreds of investors in a movie.
Louis Soteriou of Middlebury, Conn., pleaded guilty as part of a plea deal in Rutland on Thursday to charges of money laundering and conspiracy to commit mail fraud.
The Burlington Free Press reported that prosecutors agreed to drop 16 other counts against him.
Prosecutors said people invested $28 million in the film, called “Birth of Innocence.” They said Soteriou had partnered with Vermont filmmaker Malcolm “Mac” Parker on the deal.
Parker, of Addison, was in court Thursday. Last year, he pleaded guilty to charges of conspiring to commit wire fraud and filing a false tax document. He awaits sentencing.MORE IN Vermont NewsRUTLAND — Along with big-city police forces from Los Angeles and New Orleans, the Rutland City... Full Story
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