Clay Man Pleads Guilty To Money Laundering And Mail Fraud

Syracuse, N.Y. - A Clay man has pled guilty to mail fraud and money laundering.

60 year old Charles Riel, pleaded guilty to ripping off cutomers with his "so called" financial investment company, REinvest.

He scammed about $285,000 out of people by providing false information about rates of return on supposed investments. He also made up testimonials of his finacial success.

Riel used most of the money for his own personal expenses. He's agreed to pay back his victims and give the Government close to $198,000 dollars.

He faces up to 30 years total in prison, and $500 thousand dollars in fines.

(Getty Images)

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