Jul 26
2011

John F. Langford of Amarillo on July 26 pleaded guilty to 15 counts of securities fraud and other charges and admitted his fraud cost investors more than $5 million.

Langford was indicted in 2009 for selling fraudulent and unregistered products such as "private annuities" and promissory notes.

Many of his victims are elderly.

Langford faces up to 99 years in prison at sentencing, which is scheduled for Sept. 12 in Potter County state district court.