Md. Man Pleads Guilty In $1.3M Client Fraud
GREENBELT, Md. (AP) -- A Frederick man has pleaded guilty to wire fraud and money laundering after prosecutors say he took more than $1 million from an elderly client's annuity account.
Prosecutors say 35-year-old Travis Wetzel pleaded guilty Tuesday in federal court in Greenbelt as part of a plea agreement with prosecutors. He faces up to 30 years in prison when he's sentenced Feb. 23.
Prosecutors say Wetzel was a branch operations manager for an investment advisory firm in Rockville, Maryland. From July 2010 to September 2012, prosecutors say Wetzel took $1.3 million from the annuity account of an elderly Towson woman for his benefit.
As part of the plea agreement, Wetzel has agreed to forfeit the $1.3 million.
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