- Associated Press - Saturday, May 16, 2015

NORFOLK, Va. (AP) - A Virginia Beach woman has pleaded guilty to running an investment fraud scheme.

Thirty-nine-year-old Ayanna N. James entered the plea Friday in federal court in Norfolk.

Court records show James was the president and chief executive officer of Wilson Capital Group Inc.

Federal prosecutors say James used $34,000 in fund proceeds to buy NBA season tickets, a car and for travel and living expenses.

James faces up to 20 years in prison for mail fraud and up to 10 years for unlawful monetary transactions. Sentencing is set for Aug. 11.

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