An Ontario County man has pleaded guilty to wire fraud charges in federal court.
Prosecutors say 59-year-old Thomas Corsaro of Bloomfield was acting as an investment advisor when he launched a scheme to defraud eight investors, spending their money on himself instead of investing it.
Corsaro received more than $1.7 million from the eight investors.
He repaid around a sixth of the money, more than $265,000, before he was arrested.
Corsaro will be sentenced in December.