The victims were as old as 91 and their losses could add up to nearly $20 million.
Peter Bakowski, a 58-year-old former Tampa mortgage broker, has admitted orchestrating a Ponzi scheme that involved more than 30 investors and institutions and more than 150 deals, documents show.
Bakowski has agreed to plead guilty to a federal charge of making false statements to a financial institution, which carries up to 30 years in prison. He also faces a likely order to pay restitution to the victims. Read more about the Ponzi scheme…
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