Man pleads guilty to embezzling millions meant to fund Guatemala forestry projects

CONCORD, N.H. (AP) — A man who managed two forestry projects in Guatemala for a New Hampshire-based investment company has pleaded guilty in federal court to stealing $10 million from the business. Roberto Montano, of Guatemala, pleaded guilty Monday in Concord to wire fraud under an agreement with prosecutors that calls for a five-year prison sentence and restitution. Montano managed the teak forestry projects for the business from 2007 until 2014. Prosecutors say he began embezzling money from the project in 2009 and that he concealed his crimes by altering financial statements and moving funds between accounts. He was arrested in November at Miami International Airport and is due to be sentenced May 30.