KINGSPORT — A former Kingsport MetLife broker, who stole more than $6 million from MetLife customer accounts, has pleaded guilty to federal wire fraud and money laundering charges.
Mark Edward Salyer, 47, pleaded guilty to the charges in U.S. District Court in Greeneville on Wednesday and faces up to 30 years in prison and a $500,000 fine. A sentencing hearing has been scheduled for March 19.
Salyer originally faced a three-count indictment for his action, but under the terms of the plea agreement the second count of wire fraud will be dismissed at the sentencing hearing.
According to the plea agreement, Salyer worked at MetLife Securities until 2007, handling investment strategies for numerous IRA and brokerage accounts of people living in Northeast Tennessee.