Jeffrey Grayson, former CEO of Portland, Ore., money manager Capital Consultants, agreed to plead guilty to mail fraud and assisting in filing a false tax return, according to Lance Caldwell, assistant U.S. attorney. The charges carry a maximum of eight years in jail, he added. Mr. Grayson and his son, Barclay Grayson, who was the firms president, had been charged with operating a Ponzi-like scheme. Barclay Grayson received a two-year sentence in November. Harvey Silets, Mr. Graysons defense attorney, declined to comment on the charges or plea.
Mr. Grayson will make the guilty plea at a hearing scheduled for April 23.