Connecticut Man Pleads Guilty In $1.6M Ponzi Scheme

HARTFORD, Conn. (AP) — A Connecticut man who authorities say ran a Ponzi scheme that duped investors — including his 93-year-old great aunt — out of more than $1.6 million has pleaded guilty to a wire fraud charge.
Fifty-five-year-old James Neilsen of Norwalk pleaded guilty Thursday in U.S. District Court in Hartford. He is scheduled to be sentenced Dec. 22 and faces up to 20 years in prison.
Federal prosecutors say Neilsen obtained more than $1 million from numerous people be