Joseph Beck, 44, of Macungie and Allentown, was charged with wire fraud in connection with an alleged investment and loan scam Nov. 26.

According to the office of the U.S. Attorney, Beck and others, both known and unknown to the grand jury, allegedly devised a scheme for inducing people to purchase corporations which had never engaged in business and were only legitimate on paper. Victims were told owning these "shelf corporations" would convince borrowers to grant them higher limits on private loans and credit cards.

Beck created a shelf corporation in 2011, Washington Integrity Inc., and allegedly used it to funnel money from the scheme into his control. Beck's victims were allegedly defrauded of $171,000.

Customers of Beck said they were told they would see signifigant returns of their money and never received any profits or benefits. Beck allegedly used a substantial portion of the money to pay mortgages, credit card bills, grocery bills and other personal expenses.

If convicted, Beck faces a maximum sentence of 120 years in federal prison, a fine of $2 million, restitution of $171,000, $800 in special assessments and forfeiture of any proceeds from the alleged fraud scheme.The case is being investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant United States Attorney Pamela Foa.