Former firm manager pleads guilty in Greenville

GREENVILLE, S.C. (AP) -- The former manager of an investment firm in Easley has pleaded guilty to fraud charges.

The Greenville News reported Arthur Field pleaded guilty Monday to 11 counts of securities fraud, two counts of conspiracy and one count of forgery.

Field was manager of Capital Investment Funding.

A plea agreement with prosecutors will reduce his potential for prison time when he is sentenced later. He would have faced up to 23 years in prison.

Field was indicted by a state grand jury last year on charges of conspiracy, securities fraud and forgery related to the business which sold promissory notes to investors.

Field offered no explanation of what happened to the millions of dollars that investors are owed.

A co-defendant, Fredrick Scott Pfeiffer, is awaiting trial.