Cheryl Hernandez Camus, 36, who took $1.76 million from more than 50 victims has pleaded guilty to fraud charges that carry a maximum prison sentence

Cheryl Hernandez Camus, 36, admitted Wednesday she created money lending investment scheme in which she promised fixed returns and the return of the principle investment. Camus admitted making false claims to investors, including that investors' money would be used to finance real estate transactions, that there was no risk, that she personally guaranteed the investment and that it would be secured by a deed of trust. In fact, she used the money to pay other investors and for personal expenses, U.S. Attorney Joseph P. Russoniello said in a release. A two-year FBI probe led to her arrest, and a federal grand jury in April indicted her on five counts of wire fraud and two of mail fraud. As part of the plea agreement, Camus agreed to pay restitution to victims. She is to be sentenced on March 16.

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