A former Newton High School assistant football coach has pleaded guilty to federal wire fraud charges.

According to the indictment, Ryan Arguello started a business by buying properties at a discount, fixing them and them and then selling at a profit.  The indictment further states that Arguello offered mortgages on property he did not own for collateral on loans and received more than $600,000 in loans from individuals.

Most of the money was wired to him from out of state.

Arguello could face up to 20 years in prison.