MONTPELIER, Vt. (AP) -- Federal prosecutors say the silent partner of a Vermont storyteller accused of raising $28 million dollars for a film project and using most of it to pay off other investors has agreed to plead guilty.
The U.S. attorney for Vermont said Friday that Louis James Soteriou ("so-TAIR-ee-oo") of Middlebury, Conn., will plead guilty to conspiracy to commit mail fraud and money-laundering.
Sixteen other fraud and money laundering charges will be dropped.
Last year, Malcom "Mac" Parker, of Addison, pleaded guilty to federal criminal charges of conspiring to commit wire fraud and filing a false tax document. He's awaiting sentencing.
Authorities say a substantial amount of investors' money went not for the movie project called the "Birth of Innocence," but to pay off earlier investors or to Soteriou.