A 43-year-old Murphy man has pleaded guilty to charges of bank fraud and identity theft in the Eastern District of Texas, U.S. Attorney John M. Bales announced this week.

Clifford Wayne Robertson pleaded guilty to bank fraud and aggravated identity theft Jan. 13 before U.S. Magistrate Judge Don Bush.

According to the indictment, an investigation determined that Robertson claimed to be a real estate investment advisor who hosted AM radio real estate investment talk shows and in-person seminars. Robertson admitted that beginning in December 2007, he used the identity of another person to submit a fraudulent personal financial statement to a lending institution in order to obtain money by false pretenses.

The loss to investors is estimated to be around $3 million. Robertson was indicted by a federal grand jury Sept. 10, 2009. He has been detained since his arrest in Dallas on Sept. 18, 2009.

Robertson faces up to 32 years in federal prison at sentencing. A sentencing date has not been set.

This case is being investigated by the Federal Bureau of Investigation and prosecuted by Assistant U.S. Attorney Terri Hagan.