The former president and chief operating officer of an investment and wealth management firm with offices in Atlanta has pleaded guilty to conspiring to defraud investors of more than $35 million, the U.S. Attorney in Atlanta announced Thursday.
Indicted by a federal grand jury last December, Angelo Alleca, former CEO of Summit Wealth Management, pleaded guilty Thursday to two counts of conspiring with former business partner Mark Morrow to commit wire fraud in connection with the management of a number of Summit hedge funds. The second conspiracy charge stemmed from the sale of promissory notes to clients in a company that Alleca, 46, of Buffalo, N.Y., and Morrow claimed had invested in 28 cemeteries across Michigan.
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