- Associated Press - Wednesday, September 3, 2014

PORTLAND, Ore. (AP) - Prominent Portland businessman Robert Keys pleaded guilty Tuesday to fraud and money laundering.

The former head of the Private Consulting Group in Portland faces about five years in federal prison when he is sentenced on Jan. 20.

The Oregonian reports (https://is.gd/m8mPNN ) Keys helped set up a $1.1 million loan from a wealthy widow in The Dalles to an east-coast businessman. Keys didn’t tell the woman he was going to get a $150,000 kickback on the deal or that he was counting on the businessman to bail him out of several failed real estate deals.

As part of his plea arrangement, Keys agreed to pay the woman $1.1 million in restitution.

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Information from: The Oregonian, https://www.oregonlive.com

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