A key player in a multi-state, multi-million dollar real estate Ponzi scheme has agreed to plead guilty and cooperate in the prosecution of the alleged ringleader, according to documents filed in federal court.
Johnny Eugene "Jay" Grivette, Jr., 37, will plead guilty to two charges of mail fraud and money laundering and help prosecutors who are building a much larger case against Grivette's former mentor, Lawrence Leland "Lee" Loomis, 55.