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October 26, 2016
WORCESTER, Mass. (AP) — The president of a Massachusetts-based internet telecom company that prosecutors say was actually a pyramid scheme that cheated about 965,000 people worldwide out of nearly $1.8 billion has pleaded guilty to wire fraud and conspiracy.
James Merrill entered the pleas Monday in federal court in a deal with prosecutors that will limit him to a maximum of 10 years in prison at sentencing Feb. 2.
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