Cecil Township broker pleads guilty to wire, tax fraud
A Cecil Township broker pleaded guilty Monday to seven counts of wire fraud and filing false tax returns in connection with the theft of more than $300,000 from clients of his California firm, Financial Network Investment Corp.
James Grimes of Lawrence, a registered broker and financial adviser, pleaded guilty Monday after being indicted last year. He was accused of embezzling funds from clients and failing to report the income on this tax returns between 2007 and 2009.
Grimes’ office is in Bridgeville.
Grimes pleaded guilty before U.S. District Judge Nora Barry Fischer. A sentencing hearing has been set for January.