Abbeville (WTVY)-- The former head of a Florida panhandle chamber of commerce could go to prison after pleading guilty to security fraud.
Judy Morehead, 61, admitted in Henry County Circuit Court she bilked investors during a scheme that violated Alabama Securities Commission regulations.
Morehead misrepresented herself as a financial advisor, accepted about $300,000 from victims, and used the money to pay personal expenses unrelated to the investments, per an indictment.
Prosecutors, as part of the plea agreement, dismissed four other charges against Morehead and one each against her son and husband charged in the bogus investment scheme.
Following her arrest, Morehead resigned as CEO of Navarre, Florida’s Chamber of Commerce.
She will be sentenced March 8 in Abbeville and faces up to 20 years.