H-NIPOMO

Apr 29, 2013 11:56 PM by Ed Zuchelli, KSBY News

Central Coast Man pleads guilty for fraud

A Central Coast man pled guilty to a fraud scheme that caused more than $47 million in losses to victims in San Luis Obispo County.

51-year-old John Mark Moore of Nipomo pled guilty to four offenses connected to a fraud scheme which went on for more than a decade before he came clean to his family in the fall of 2011.

It was last year when he talked to federal authorities.

Prosecutors say over the course of 11 years, Moore misappropriated millions from his in-laws and five other banks including three on the central coast.

Moore will be sentenced on July 29th and could spend the rest of his life in prison.

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