Rather than argue a fruitless case in court and lose anyway, today William Apostelos plead guilty to mail and wire fraud.

Apostelos was indicted back in October of 2015 on thirteen counts of wire fraud. Part of Apostelos’ $75 million dollar Ponzi empire included
Genesis Acquisitions
, reviewed by BehindMLM in October, 2014.

A plea agreement appears on the case docket for Apostelos’ criminal case, however it appears to have been filed under seal.

Dayton Daily News had a journalist in the court room and report the

Statement of facts said Apostelos “intentionally misrepresented” how he was to invest clients’ money.

Saying, “yes, your honor,” Apostelos acknowledged that he ran an illegal scheme with hundreds of investors’ money and millions of dollars.

As part of his plea agreement, Apostelos is facing up to fifteen years in prison. He is currently scheduled to be sentenced on June 30th.

🤖 Quick Answer

What crime did William Apostelos plead guilty to?
William Apostelos pleaded guilty to mail and wire fraud in connection with a $75 million Ponzi scheme involving Genesis Acquisitions and hundreds of investors. He was originally indicted in October 2015 on thirteen counts of wire fraud and acknowledged intentionally misrepresenting investment plans to clients.

How many investors were affected by Apostelos' scheme?
Apostelos' fraudulent scheme involved hundreds of investors and millions of dollars. The $75 million Ponzi empire included Genesis Acquisitions, which was reviewed by BehindMLM in October 2014.

What was the significance of Apostelos' plea agreement?
By pleading guilty rather than proceeding to trial, Apostelos avoided a likely conviction and lengthy proceedings. The plea agreement appeared on the case docket but was filed under seal, indicating confidential terms negotiated

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