Harry Levy appeared in U.S. District Court in Boston Friday to plead guilty to charges stemming from charging a customer of his Medford magic store over $500,000 in unauthorized fees and misleading federal investigators.
Levy, 61, of Lexington is scheduled to return to court July 20 to be sentenced.
The owner of Hank Lee's Magic Factory signed a plea agreement earlier this month on the charges, which between 2009 and 2011, according to court documents.
He appeared in court Friday to waive indictment and formally enter guilty pleas.
In exchange for the guilty pleas, prosecutors won't charge him with wire fraud or aggravated identity theft, according to a plea agreement.
When he is sentenced, Levy will have to forfeit assets including the $561,927 stemming from the credit card fraud, according to the plea agreement.
The agreement calls for Levy to "take whatever steps are necessary to ensure that assets subject to forfeiture are not sold, disbursed, wasted, hidden or otherwise made unavailable."
The credit card charge carries up to a 15 year sentence and the false statements charge 5 years, but the plea agreement said prosecutors will be seeking the "low end" of sentencing guidelines. The agreement also calls for Levy to pay restitution.
The agreement did not call for Levy to close the Magic Factory, and its website has remained open and taking orders as of Friday afternoon.