Fake cannabis billionaire Justin Costello pleads guilty in $35 million fraud, with recommended prison term of 10 years

Justin Costello, who posed arsenic a billionaire and twice-wounded Special Forces Iraq seasoned to dupe investors portion portraying himself arsenic a ineligible cannabis mogul, pleaded guilty Wednesday to securities fraud.

Under a plea statement with Costello, prosecutors volition urge a condemnation of 10 years successful situation for him. Costello besides agreed to wage victims of his frauds not little than $35 cardinal successful restitution.

Costello's blameworthy plea successful national tribunal successful Seattle came 3 months aft an FBI SWAT squad apprehended the 42-year-old successful a distant country of confederate California, carrying a backpack containing gold bars, $70,000 successful U.S. and Mexican currency, and a fake ID.

Days earlier, helium had failed to surrender arsenic agreed to look an indictment successful the case.

That indictment charged Costello with 3 counts of securities fraud and 22 counts of ligament fraud. His blameworthy plea Wednesday was to a azygous number of securities fraud, but it covered overmuch of the transgression behaviour alleged successful the indictment.

Prosecutors agreed arsenic portion of the plea woody not to record transgression charges against Costello's woman "for immoderate offenses known" to the U.S. Attorney's Office for the Western District of Washington successful transportation with the investigation.

Costello's sentencing was scheduled for April 21.

He has been held without bail since his arrest.

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