BATON ROUGE, La. (AP) — A Louisiana-based investment adviser has been charged with defrauding clients by using their money for personal expenses, to pay off other investors and to invest in a risky real estate venture.

Ralph Willard Savoie, a resident of Baton Rouge and Mandeville, was charged last Friday with one count of wire fraud, said acting U.S. Attorney Corey Amundson.

Savoie obtained more than $150,000 from the investors and used some of the money on jewelry, hotels, restaurants, credit card bills, a car note and rent, according to a court filing, which also said Savoie falsely told clients he would

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