Man Faces 20 Years, $10 Million Fine in Fraud Spam Scheme

A Kentucky man has pleaded guilty to sending out more than 9 million junk e-mail messages as part of a business scheme that defrauded investors of more than $100,000. At sentencing Oct. 6, K.C. Smith, 20, of Oak Grove, Ky., will face up to 20 years in prison and a $5 million fine on each of two counts of securities fraud.