- Associated Press - Wednesday, April 20, 2016

CONCORD, N.H. (AP) - A former millionaire accused of swindling more than $2 million from a New Hampshire filmmaker has agreed to pay back $300,000 over several years.

The Portsmouth Herald reports (https://bit.ly/1We6icA ) that Karl Hahn pleaded guilty under a deal with federal prosecutors on Tuesday in Concord to a federal wire fraud charge.

His plea, which must be approved by a judge, states Hahn would be sentenced in August to serve five years of probation and pay restitution.

Hahn was indicted in April 2015 on charges that he bilked filmmaker Chase Bailey out of $2 million by promising he’d kick in $1.9 million of his own money toward an investment involving three properties.

Court records say there was no investment though, and that Hahn used Bailey’s money for personal and business expenses.

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Information from: Portsmouth Herald, https://www.seacoastonline.com

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