NEW ORLEANS, LA (WVUE) - Federal prosecutors say a Metairie businessman was diverting investors money to personal use.
A one-count bill of information charges John F. Kelly, 57, with wire fraud.
Court documents indicate Kelly operated a tax sale investment business from 2011 through 2014.
He's accused of defrauding investors by using their money to pay off personal loans and to buy real estate properties in New Orleans.
U.S. Attorney Kenneth Polite credits the work of FBI and IRS investigators in this case.
If convicted of wire fraud, Kelly could face a maximum penalty of twenty years in prison and a fine of $250,000.