A 53-year-old woman from Federal Way, Washington, has pleaded guilty to federal fraud charges tied to a scheme that targeted members of the Korean community, the U.S. Department of Justice announced.
The guilty plea was entered in U.S. District Court in Seattle. According to the Justice Department, the woman admitted to three wire fraud counts. She also admitted guilt on two separate bank fraud counts. All five counts stem from her operation of a phony financial advisor scheme.
Charles Neil Floyd, First Assistant U.S. Attorney, made the announcement of the plea. The Justice Department identified the victims as members of the Korean community who were defrauded through the bogus financial advisory operation.
The woman, a resident of Federal Way, faces sentencing after admitting in federal court to the wire fraud and bank fraud charges connected to the fraudulent scheme.