Amjed Mahmood, one of the leaders of Sunrise Equities, has pleaded guilty in federal court to charges of wire, bank, and mail fraud.

Mahmood could be sentenced to up to five years in prison and face a fine up to $250,000. In addition, the judge could order further restitution to the victims of Sunrise Equities’ fraud scheme.

“The guilty plea shows a first step in holding someone accountable,” said Salman Azam, Managing Partner of Lakeshore Law Group LLP. “They targeted a very working-class, blue-collar crowd who was religious. … Bringing them to justice might be the only justice the victims are going to get.”

Read the full article here. (Link to Chicago Tribune site)