FORT LAUDERDALE (CBSMiami/AP) -€ The head of an investment group has been charged fraud for his role in Scott Rothstein’s $1.4 billion Ponzi scheme.

Frank Preve, who was charged Monday with wire fraud conspiracy, ran the Banyon Group which invested in Rothstein’s supposedly confidential legal settlements that turned out to be bogus.

Court documents say Preve was aware a few months before the scheme collapsed in 2009 that Rothstein was not keeping his commitments to the Banyon investors and that Preve failed to inform them.

No attorney was listed for Preve in court records Monday. The type of document prosecutors filed typically means a defendant intends to plead guilty.

If convicted, Preve faces a five-year maximum prison sentence.

Nearly two dozen people have been convicted in the Rothstein case.

Rothstein, 49, is serving a 50-year prison sentence.

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