A former adviser is set to plead guilty to five counts of wire fraud and one count of tax fraud related to a $21 million Ponzi scheme, according to the U.S. Attorney’s Office District of Rhode Island.
Ex-adviser Patrick Churchville also allegedly used $2.5 million in client funds to buy a waterfront home in Barrington, R.I., a town on the eastern shore of Narragansett Bay, according to authorities. He is also accused of failing to pay more than $820,000 in personal federal income taxes.
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