Josh Schuster to plead guilty to $10M Ponzi scheme

Nine months after he was charged with stealing more than $10 million from investors, disgraced developer Josh Schuster has changed tack and will now plead guilty to the charges. He faces up to 20 years in prison. Prosecutors from the U.S. Attorney’s Southern District of New York informed the District Judge Valerie Caproni earlier this month that Schuster intends to change the not-guilty plea he entered in May when he was charged with securities fraud.  “The Government understands that the defendant wishes to change his plea and enter a guilty plea to Count Two of the Indictment,” U.S. Attorney Jay […] This article originally appeared on The Real Deal. Click here to read the full story.