- Associated Press - Friday, July 29, 2016

BUFFALO, N.Y. (AP) - An Ohio man has pleaded guilty in New York to being part of a scheme that defrauded more than two dozen investors out of $5 million.

The U.S. Attorney’s office says 55-year-old Gilbert Lynagh of Dublin, Ohio, will be sentenced in November after pleading guilty to conspiracy Thursday in federal court in Buffalo.

Prosecutors say Lynagh was involved in forming two companies and soliciting investments from 27 victims, whose money was never returned. Investigators say some it went for Lynagh’s personal use.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide