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FILE - A St. George financial adviser has admitted in federal court to selling fraudulent tax-avoidance and investment strategies to clients totaling more than $10.8 million.

SALT LAKE CITY — A St. George financial adviser has admitted in federal court to selling fraudulent tax-avoidance and investment strategies to clients totaling more than $10.8 million.

Henry Brock pleaded guilty to tax evasion, securities fraud and wire fraud in U.S. District Court. He faces up to five years in prison for tax evasion, 20 years each for securities fraud and wire fraud. He is scheduled to be sentenced next March.

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Brock promised investors that he could provide a way for them to avoid paying taxes on IRA withdrawals, which would otherwise be subject to penalties and taxes, according to federal authorities. He issued tax forms to clients falsely representing that they were investors in his business, which served to offset their tax liabilities.

As a result, Brock caused clients to file false income tax returns claiming $3.8 million in bogus business losses and resulting in a tax loss of more than $1.1 million.

Brock used $196,323 of one client’s money for his own personal and business expenses, authorities said.