LAFAYETTE, Louisiana — A Lafayette woman has pleaded guilty to defrauding investors out of more than $1.27 million.
U.S. Attorney Stephanie A. Finley, in a news release Tuesday, said 52-year-old Catherine Doucet Romero entered the plea Monday to one count each of wire fraud and money laundering.
Authorities say from March 2007 to July 2009 Romero tricked investors into believing their money would be used to buy a manufacturing facility and tannery for exotic skin products. Instead, she used the money to pay personal bills and expenses of an unrelated business.
Romero faces up to 30 years in prison and eight years of supervised release for both counts. She also faces a $250,000 fine, restitution and forfeiture.
A sentencing date was not set.