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Prosecutors expect guilty plea in investment scam

October 28, 2009 By The Associated Press  

SACRAMENTO, Calif. (AP) — A former executive of a Northern California investment firm has agreed to plead guilty to defrauding about 150 investors, federal prosecutors said Wednesday.

The U.S. attorney's office in Sacramento charged 66-year-old Kenneth Kenitzer of Pleasanton with mail fraud and money laundering in the $40 million scam.

Spokeswoman Mary Wenger said Kenitzer will plead...

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