ALBUQUERQUE, N.M. — A New Mexico businessman has pleaded guilty in federal court to swindling an elderly couple out of $1 million, but might be placed in prison for less than two years as part of his plea deal.
Bobby Willis faced up to 20 years in prison before the deal. He’s already serving probation in another fraud case.
Willis’ plea deal will have to be approved by U.S. District Judge Christina Armijo at a sentencing hearing that has not yet been scheduled.
Willis was charged with two counts of wire fraud. He admitted he collected money from the elderly couple, but never invested it into any real estate like he said he would.
Willis’ also admitted that he and his wife spent the couple’s money.
Willis’ lawyer Robert Cooper has argued his client is in poor health with severe memory problems.