Feds in Vt charge 2 with alleged film fraud

Middlebury, Conn. (AP) - Prosecutors say a Vermont storyteller and a Connecticut chiropractor are facing charges for allegedly raising $28 million from investors for a film project and using most of the money to pay off other investors.

The U.S. Attorney's Office said 54-year-old Mac Parker, of Addison, has agreed to plead guilty to conspiracy to commit wire fraud and filing a fraudulent tax document. Fifty-four-year-old Louis James Soteriou of Middlebury, Conn., is charged with mail fraud, conspiracy and money-laundering.

The Burlington Free Press reported the pair raised $28 million to fund a yet-to-be-released film, but that only $700,000 was spent on production costs, with Soteriou receiving $3.8 million and the rest going to pay back earlier investors.

In a statement, Parker apologized for his actions. Soteriou could not be reached for comment.