A St. Charles pastor has pleaded guilty to four counts of wire fraud.

The St. Louis Post-Dispatch reports 40-year-old Jim Staley of Passion for Truth Ministries pleaded guilty to the charges on Thursday. Staley admitted that as owner of Wealth Financial International, he cheated 16 investors out of $3.3 million while making a profit of $570,000.

Staley's attorney, Scott Rosenblum, said after the hearing that Staley accepted responsibility and was ashamed of his actions. The attorney said Staley's actions had nothing to do with his role as a pastor.

Staley could face six to eight years in prison. His sentencing hearing is scheduled for July 29.

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