TOLEDO, OH (WOWO) A third suspect in a decade-long Ponzi scheme investigation in Ohio has pleaded guilty, WCMH reports.

James Delverne, a former managing member of Toledo investment firm Northwest Capital, admitted to defrauding investors of millions of dollars over a period spanning 2011 to 2021. The Ohio Attorney General’s Office says Delverne faces multiple charges, including bank fraud, money laundering, engaging in a pattern of corrupt activity, telecommunications fraud, theft, business scheme violations, and securities fraud.

In one case, Delverne and other defendants certified false investment values and created fake invoices to secure $7 million from three lending institutions. In a separate business scheme, Delverne allegedly defrauded investors of $3.5 million by failing to disclose the true value of companies he operated.

Delverne will be sentenced after cooperating with ongoing investigations, which includes providing testimony against his co-defendants. He is the third former Northwest Capital employee to plead guilty, joining Doug Miller and Richard Scheich.

The Ohio Attorney General’s Office says the investigation continues, with authorities pursuing justice for the defrauded investors.