A Huntsville man has pleaded guilty to taking money from investors and using it for himself.
Keith Michael Rogers, 42, faces up to 20 years in prison and a $30,000 fine. Prosecutors have asked that he be given a 10-year sentence when he's back before a judge on May 18.
Rogers entered a guilty plea to one count of securities fraud March 3, according to Madison County court records.
Rogers took more than $2.5 million from his investors and used it for himself, according to the Alabama Securities Commission. He also used some of the money to pay earlier investors, which are known as Ponzi payments.
Jail records indicate Rogers is still in the Madison County Jail, where he's been since he was indicted last June.
