Texas con-man pleads guilty in advance-fee scam
Posted: Mon Jan 24, 2011 7:46 pm
Clever - and one has to wonder if the people he scammed could prove they have unclean hands.
Edward Louis Molz III, 29, took money from 247 people for what he called "aged" corporations, which he claimed would give them access to lines credit. Then he spent the money on himself, federal prosecutors said.
Under the plea agreement, Molz agreed to forfeit money and property, including a 2007 BMW 650, a 2005 Maserati and real estate in Irving.
He faces up to 20 years in prison, a $250,000 fine and restitution at his April 18 sentencing.