Daniel Calugar, a poster boy for the mutual fund trading scandals, pleaded guilty Wednesday, to defrauding investors, according to New York Attorney General Eliot Spitzer.

As part of a deal, Calugar, who owned Security Brokerage in Las Vegas, pleaded guilty to one count of felony fraud. He will be sentenced in New York State Supreme Court on March 23. He faces up to four years in prison.

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