Man Pleads Guilty to Phony Bond Scheme
- Share via
A former Clovis businessman accused of bilking millions from investors by selling worthless 19th century railroad bonds has pleaded guilty to money laundering, wire fraud and conspiracy.
Michael A. Huxley pleaded guilty to four felony counts of a 20-count indictment. Prosecutors allege Huxley sold the bonds with partner Eric L. Swanberg to 500 investors nationwide, promising returns of 300% to 500% within 12 months.
Huxley was arrested in April after he returned from Paris, where he had been living for more than three years.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
