Alderdice pleaded guilty to fraud charges in N.Y.
The former executive vice president of International Gold Bullion Exchange, a defunct Florida company accused of bilking investors of millions of dollars, also pleaded guilty to larceny charges in White Plains, N.Y. James Alderdice, who also faces state and federal charges in Florida, was released on his own recognizance. Prosecutors dropped 30 of the 34 counts against Alderdice in return for his plea--to two counts of grand larceny and two of securities fraud--because prosecutors said they believe that he was subordinate to his older brother, the late William Alderdice, who was president of IGBE.
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