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Criminal Law

Long Beach accountant to plead guilty in $40 million Ponzi scheme

A Long Beach tax preparer is expected to plead guilty Wednesday in federal court to wire fraud in connection with a Ponzi scheme that allegedly bilked $40 million from investors, according to authorities.

As part of a plea deal, prosecutors have recommended that Carol Ann Pedersen receive 6 1/2 to eight years in federal prison when she is sentenced in U.S. District Court in Los Angeles, Thom Mrozek, a spokesman for the U.S. Attorney’s Office, said Monday.

Read the source article at Orange County Register

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