ALEXANDRIA, Va. -- The former CEO of a northern Virginia tech startup has pleaded guilty to duping investors out of more than $18 million by lying about the company’s financial performance.
Forty-one-year-old Daniel Boice of Alexandria pleaded guilty Thursday in federal court to stock fraud and wire fraud.
He raised more than $18 million from roughly 90 different investors for a company called Trustify that connected consumers to private investigators.
But Boice admitted he used at least $3.7 million of the money for personal expenses, including private jet travel and furnishing a seaside vacation home.
The Securities and Exchange Commission has also filed a civil complaint against Boice and his wife at the time, Jennifer Mellon.