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BISMARCK, N.D. (AP) — A former Bismarck securities and insurance agent accused of defrauding investors out of more than $3 million has pleaded guilty to federal charges of mail fraud and money laundering.

Kevin Wanner with Minneapolis-based Questar Capital Corp. was accused of bilking money from dozens of people over a period of about 15 years.

Wanner last year reached a plea deal with prosecutors. The Bismarck Tribune reports that he faces up to 30 years in prison, but the government will recommend a much lighter sentence.

Questar Capital agreed earlier to repay $2.4 million to investors.

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