NEW HAVEN, Conn. (AP) -- A man accused of running a multimillion-dollar fraud scheme through a Connecticut company has pleaded guilty to federal criminal charges.
Federal prosecutors say 62-year-old Garrett Denniston cheated more than 50 people out of more than $2.5 million through a company called ConsensusOne. Instead of investing the victims' money, he used it for business and personal expenses such as ski outings and country club memberships.
Denniston is a former resident of Newtown, Conn. and Boothbay Harbor, Maine. He pleaded guilty Thursday to one count of wire fraud.
He has been detained since his arrest in September.
He faces up to 20 years in prison at sentencing, which is currently scheduled for June 11.