Lafayatte business owner pleads guilty to defrauding investors

Local News

A Lafayette business owner has plead guilty to defrauding investors out of $1.27 million.

52 year old Catherine Doucet Romero of Lafayette is pleading guilty to one count of wire fraud and and one count of money laundering.

From March 2007 to July 2009, Romero tricked investors into believing that their money was going to purchase a manufacturing facility and tannery for exotic skin products, to include alligator and stingray.

Romero instead used the money to pay for personal bills and expenses.

She stole $1,271,000 using this scheme.

Romero faces 20 years in prison and five years of supervised released for the wire fraud count and 10 years in prison and three years of supervised released for the money laundering count.

She also faces a $250,000 fine, restitution and foreiture.

Her sentencing date has yet to be set.

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