East Liverpool man pleads guilty to fraud charge - 21 News Now, More Local News for Youngstown, Ohio -

East Liverpool man pleads guilty to fraud charge

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PITTSBURGH, PA- A resident of East Liverpool, Ohio, pleaded guilty in federal court to a charge of wire fraud.

According to a release, Daniel P. Lucas, 50, of East Liverpool, pleaded guilty to one
count before Chief United States District Judge Joy Flowers Conti.

In connection with the guilty plea, the court was advised that Lucas defrauded three investors
by representing that he was a successful currency trader and obtaining $78,000 from them for this purpose.

Thereafter, he retained and spent more than $49,000 for his own purposes, while earning no profits for investors and incurring more than $28,000 in currency trading losses.

Judge Conti scheduled sentencing for Jan. 10, 2014.

The law provides for a total sentence of 20 years in prison, a fine of $250,000, or both.

Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offense and the prior criminal history, if any, of the defendant.

Pending sentencing, the court continued Lucas on bond.

Assistant United States Attorney Leo M. Dillon is prosecuting this case on behalf of the
government.

The Federal Bureau of Investigation conducted the investigation leading to the indictment
in this case.

 

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