Head of S.C. investment firm pleads guilty to frauds
By The Associated Press Wednesday, July 16, 2008COLUMBIA, S.C. - The head of a small South Carolina investment firm has pleaded guilty to bilking dozens of people of about $6 million.
U.S. Attorney Walt Wilkins says Daryl Batts pleaded guilty Wednesday to one count each of securities fraud and mail fraud.
Batts owned and operated Comprehensive Financial Solutions Inc. in Easley. Wilkins says authorities think about 150 people invested about $6 million with Batts’ firm. Wilkins says Batts used money from his investors for himself instead of investing it.
Batts’ attorney did not immediately respond to a message seeking comment.
Batts faces up to 50 years in prison and a $500,000 fine.
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