Former Congressman Pleads Guilty to Fraud
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Former Rep. Edward Mezvinsky pleaded guilty in Philadelphia to defrauding friends and family members out of millions of dollars in a pyramid scheme.
The former Democratic congressman from Iowa had long blamed his involvement in the scheme on his manic depression and the effects of an anti-malaria drug he took while on business trips to Africa.
Mezvinsky, 65, pleaded guilty to 31 counts of fraud, admitting he bilked investors who handed over more than $10 million for deals he claimed to be arranging in Africa.
Prosecutors said they will ask for nine to 11 years in prison at sentencing Jan. 9.
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