Florida man accused of exploiting excitement over Facebook admits defrauding investors of $13M

  • by: LARRY NEUMEISTER , Associated Press
  • Updated: June 25, 2013 - 7:05 PM

NEW YORK — A Florida investment adviser and onetime Oregon gubernatorial candidate cried as he pleaded guilty Tuesday in a $13 million securities fraud scheme that prosecutors say capitalized on enthusiasm for shares of Facebook and other Internet companies about to go public.

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