Bellevue developer Lobsang Dargey faces as much as 10 years in federal prison after pleading guilty to fraud-related charges Wednesday.
Speaking in a subdued voice, Dargey entered his pleas in U.S. District Court in Seattle, more than a yearafter federal investigators raided his offices and home.
Sentencing is scheduled for April 6. Each charge carries up to five years in prison.
Dargey also has reached a tentative agreement to settle a civil lawsuit brought by the U.S Securities andExchange Commission, according to court papers and his attorney in that case, Peter Ehrlichman ofDorsey & Whitney.
It may take several weeks before it is finalized, he said.
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