Brothers Agree to Plead Guilty: Jonathan D....
Brothers Agree to Plead Guilty: Jonathan D. Sterns and Mark A. Sterns, who tried to raise millions of dollars with a bogus diet patch, have agreed to plead guilty to mail and securities fraud charges. Both agreed to aid a criminal investigation of firms headed by their uncle David A. Sterns. The agreement was filed in U.S. District Court in Santa Ana. In March, 1989, a postal inspector estimated that 22,000 investors had been bilked out of $9 million to $11 million. The brothers, formerly of Orange County, each face up to 10 years in prison and a maximum fine of $500,000.
More to Read
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.