WESTPORT, Conn. New York resident Susan Italiano Wong, formerly of Westport, faces up to 20 years in prison and a fine of up to $250,000 after pleading guilty to investment fraud, U.S. Attorney for Connecticut David Fein announced Wednesday.
By pleading guilty to one count of wire fraud Wednesday in New Haven, Wong, 38, admitted to defrauding a total of $80,000 from several people from January 2010 to February. She told the investors that she would place their money in an exclusive, high-yield fund, the U.S. attorney's office reported in a statement.
Wong also told the investors that she would refund their money upon their request, but instead used the funds to pay her living, travel, entertainment and business expenses, the U.S. attorney's office said.
U.S. District Judge Janet Bond scheduled Wong's sentencing for Feb. 13. In addition to a possible prison term and fine, Wong will also be ordered to repay the investors she defrauded.
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