Former broker pleads guilty to fraud

TULSA - A former securities broker has pleaded guilty in Oklahoma to defrauding thousands of investors, Justice Department officials say.

Tulsa prosecutors say 39-year-old Joshua Wayne Lankford fled to Costa Rica in 2009 after he was accused in an alleged stock manipulation scheme.

Once he was captured, Lankford was one of five people indicted in the scheme.  Lankford pleaded guilty to one count of money laundering for $250, 000 generated by the scheme on Monday.

Sentencing is scheduled for March 26.

Lankford faces up to 10 years in prison and a $250,000 fine.

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