As first reported in the Tallahassee Democrat, Don Reinhard, a former Tallahassee investment banker, pleaded guilty to seven of 23 counts in a federal indictment charging him with bank fraud and money laundering.

Sentencing in the case has been set for Aug. 12.

A plea hearing in the federal bank-fraud and money-laundering case of former Tallahassee investment adviser Don Reinhard will be held at 2 p.m. today at the U.S. Courthouse, according to Supervisory Assistant U.S. Attorney Karen Rhew-Miller.

Reinhard was indicted Oct. 21 after a two-year investigation by the Internal Revenue Service and the U.S. Trustee Program, which oversees the nation’s bankruptcy system.

He is accused of hiding assets he should have reported on his bankruptcy petition, falsifying financial statements for a loan application and submitting inaccurate tax returns for his bankruptcy case, according to the indictment.

If convicted on all 23 counts, he could face 214 years in prison fines of $6.5 million.

If you believe that you have been the victim of a securities fraud, The White Law Group may be able to help. To speak to a securities attorney, please call our Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group, visit http://whitesecuritieslaw.com.