NEW HAVEN, Conn. (AP) - A 36-year-old investment adviser from Haddam has pleaded guilty to federal charges that he defrauded clients of more than $600,000.
Aaron Johnson, who was the president and chief investment officer at J. Capital Advisors, entered a guilty plea Thursday to a single count of mail fraud.
Prosecutors say that beginning in 2010 Johnson skimmed excessive and unearned fees from clients while working as a registered investment adviser with Trade PMR, a Florida company.
They say Johnson attempted to prevent the discovery of the full scope of his scheme by repaying fees he took from one victim and telling investigators the fees were taken out as the result of a glitch in his billing system.
He faces up to 20 years in prison when he is sentenced on May 23.
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