ALBUQUERQUE, N.M. — The former CEO of Desert State Life Management pleaded guilty to wire fraud and money laundering in federal court Monday morning. Paul Donisthorpe, 62, will be sentenced to eight to 12 years in prison, according to the recommendation in his plea agreement. He also must pay $4,812,857 in restitution to the victims of his crimes. Donisthorpe ran a decade-long scheme in which he stole more than $4.8 million from more than 70 of his company’s clients. Many of them had [- more...]