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Ex-SEAL charged in investment fraud case

Aug. 8, 2012 - 10:34AM   |   Last Updated: Aug. 8, 2012 - 10:34AM  |  
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SAN DIEGO A former Navy SEAL has pleaded not guilty to bilking people out of more than $1 million through his San Diego investment company.

U-T San Diego reported that 40-year-old Jason Mullaney entered pleas Tuesday to 29 felony charges, including grand theft and fraud. He faces up to 34 years in state prison if convicted.

He remained jailed Wednesday.

Mullaney, who is homeless, was arrested Friday in San Diego near a freeway off-ramp.

Prosecutors contend that Mullaney defrauded at least 13 people, most of them former Navy SEALS, through his company, Trident Financial Holdings & Acquisitions, using the money for personal purposes.

Most of the money hasn't been recovered.

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