Ligonier Man Pleads Guilty to Wire Fraud
PITTSBURGH - A resident of Ligonier, Pa., pleaded guilty in federal court to a charge of fraud by wire, United States Attorney David J. Hickton announced today.
Samuel Hayden, 70, pleaded guilty to one count before United States District Judge Cathy Bissoon.
In connection with the guilty plea, the court was advised that in October 2010, Hayden and another person solicited funds from an investor in which he promised a significant return on a foreign commodity investment. Instead, Hayden used part of the funds for his personal benefit.
Judge Bissoon scheduled sentencing for Dec. 6, 2012. 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 is based upon the seriousness of the offense and the criminal history, if any, of the defendant.
Assistant United States Attorney Gregory C. Melucci is prosecuting this case on behalf of the government.
The Federal Bureau of Investigation conducted the investigation that led to the prosecution of Hayden.