A Los Angeles-area man pleaded guilty on Monday to defrauding investors out of more than $1 million “by making false promises that they would receive an ownership interest in several adult entertainment webcam websites and then using their money on personal expenses, including luxury items,” according to the Department of Justice.
A Los Angeles-area man has been arrested after an FBI investigation and a federal grand jury indictment alleging that he defrauded investors out of more than $1 million claiming to run an adult website operation.
