MIAMI (AP) _ A second Florida man has pleaded guilty in connection with a Ponzi scheme that defrauded more than 600 Haitian-American investors.
Abner Alabre of Miramar pleaded guilty Friday to conspiracy to commit securities fraud. He also forfeited his home, which authorities say was bought with money raised in the scheme.
The 33-year-old man faces up to five years in prison and a $250,000 fine. A sentencing hearing has not been scheduled.
Brian Taglieri pleaded guilty last month in connection with the scheme and agreed to reimburse investors.
Two other suspects also face charges.
Authorities say the four men bilked investors of more than $12 million in 2008. They promised to double their clients' money every 90 days through their Delray Beach-based HomePals Investment Club.