FARMINGTON, N.M. (AP) – A businessman accused of misleading investors of a Kirtland hospital project has entered a plea related to embezzlement charges.
The New Mexico Office of the Attorney General says Bobby Willis pleaded no contest Friday to two felony counts of embezzlement in Farmington District Court.
Willis faces up to 12 years in prison under the agreement.
He has also been ordered to pay restitution to his victims.
Willis is also scheduled to go on trial in June for federal wire fraud charges.
Willis is the former owner of New Mexico Title Co.
Authorities say Willis stole gemstones and jewelry from a former business partner and embezzled from an escrow account. He also defrauded a couple of nearly $1 million, urging them to invest in the construction of a VA hospital.