SEATTLE (AP) — A Blaine man accused of collecting more than $3 million with an inheritance scam pleaded guilty Wednesday in federal court in Seattle to wire fraud and tax crimes.
Federal prosecutors say 51-year-old Scott Alan Stuart persuaded investors throughout the country to send him money so he could claim an inheritance from a bank in Canada. He promised a large return on their money.
The Bellingham Herald reports that between 2003 and 2010, Stuart collected more than $3 million from dozens of investors. There was no inheritance or Canadian bank account. The bulk of the money he collected was used for his own expenses.
Stuart faces up to 20 years in prison when he is sentenced Oct. 28.
Information from: The Bellingham Herald, http://www.bellinghamherald.com