Consultant to Plead Guilty to Conspiracy

A former Southern California business consultant has agreed to plead guilty to conspiring to obstruct the Securities and Exchange Commission’s investigation of a $593- million Ponzi scheme carried out by money manager Reed E. Slatkin, federal prosecutors announced in Los Angeles.

Daniel W. Jacobs, 60, who now lives in Michigan, pretended to be a representative of a Swiss financial institution purportedly holding hundreds of millions of dollars in investor funds, according to his plea agreement with prosecutors.

Jacobs faces a maximum sentence of five years in prison and a $250,000 fine. He also will be required to pay restitution of about $1 million, the amount Slatkin gave him for his services. Slatkin, a financial advisor to some of Hollywood’s biggest stars, pleaded guilty earlier this year to 15 criminal counts in connection with the scam.