ANCHORAGE, Alaska—An Oklahoma man has pleaded guilty to swindling Alaskans out of more than $300,000.
The U.S. attorney's office says Donald Lee Smith, of Muldrow, Okla., made intentionally false misrepresentations about investment opportunities, neglecting to tell investors and lenders that he was using a large portion of their money to gamble in casinos instead of investing it. The office says the scam occurred between 2007 and 2008.
The U.S. attorney's office says Smith lived in Alaska when the scheme began, later moving to Oklahoma.
Sentencing was set for October.