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Another Man Pleads Guilty In Texas Real Estate Scam

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PLANO (AP) - Prosecutors say a second North Texas man has pleaded guilty in a $17 million real estate scam that featured promotions on radio stations.

Jeremy Louder pleaded guilty Thursday in Plano to conspiracy to defraud more than 80 investors nationwide.

No sentencing date was immediately set for the 32-year-old Frisco man in the Quadwealth investigation.

Jeffrey Brown of Dallas, who pleaded guilty last week to the same fraud-related charge, also awaits sentencing.

Investigators say Quadwealth falsely marketed itself as an elite financial planning and wealth management group. Prosecutors say some of the investment funds were used to pay the personal expenses of the operators.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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