A prominent businessman pleaded guilty Wednesday to fraud in a $135 million real estate scheme that fleeced hundreds of investors, including the Roman Catholic prep school he once attended.
Gaston Cantens, 73, faces up to five years behind bars after pleading guilty to a single count of wire and mail fraud conspiracy. U.S. District Judge Kathleen Williams set sentencing for April 4.
Cantens also lured investors from Miami's close-knit Cuban-American community, many of them elderly and some Roman Catholic priests.
One victim, 80-year-old Eduardo Arango, said he lost about $800,000 investing with Cantens. He called the plea agreement "a sweet deal" because Cantens could have faced more charges and a longer prison sentence.
"Most of the victims were people who are very aged. They lost whatever their resources were. They have suffered," Arango said.
Another GOP debate tonight. Too bad Ali-G isn't the moderator: