Executive who had business ties to Playgirl magazine pleads guilty to $250M fraud at lending company

MIAMI (AP) — A Florida executive whose family business once owned Playgirl magazine has pleaded guilty to conspiracy to commit securities fraud. Prosecutors say he misled investors in another of his companies, which made high-interest loans to small businesses. Carl R. Ruderman was chairman and chief executive officer of 1 Global Capital. Federal authorities say he took part in a $250 million scheme that affected more than 3,400 investors in 42 states. The 82-year-old pleaded guilty Thursday in federal court in Miami. Sentencing is set for Jan. 3. He faces up to five years in prison and forfeiture of more than $250 million.