Friday, February 27, 2009

Illinois Businessman Admits to an Investment Scheme

This article in the Chicago Tribune reports that John Hoole of Marion has pleaded guilty to federal charges of money laundering and mail fraud in U.S. District Court in Benton.
Hoole was accused of using investors’ money to pay back other investors and for personal expenses as well.

He faces up to $250,000 in fines and up to 30 years in prison.

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