SAN DIEGO -- A La Mesa man who ran investment scams pleaded guilty Tuesday in a San Diego court.

Raymond Charles "RC" Anderson admitted guilt for six counts of grand theft and one count of identity theft in connection with fake investments in traffic safety inventions.

The 10News I-Team has been following the story of these phony investments for three years, reporting how Anderson scammed former heavyweight boxer Ken Norton out of $277,000, as well as thousands of dollars from other victims in San Diego and in Las Vegas.

Anderson faces up to eight years in state prison when he's sentenced on Nov. 30.