All fraud cases are different. For some, going to trial with a strong case is the best option. For other cases, pleading out can help reduce penalties and provide a less risky option that taking a chance that a jury could decide against your favor. Plea bargains are often made on lesser offenses and can include mitigated sentencing.

One Miami businessman decided that pleading guilty to a single count of wire and mail fraud conspiracy was the best option in his particular situation. The 73-year-old defendant entered his plea on Wednesday, Jan. 25, 2012 in a U.S. District Court.

The charges arose from several real estate ventures the man began in southwest Florida in 1993. The man owned a company that sold real estate. Around 2002 -- like many other businesses -- the company began seeing trouble. The company was eventually forced to file for bankruptcy protection in 2009.

The man was accused of building the real estate company as a Ponzi scheme. He was accused of paying his initial investors in the company with funds that were raised through newer investors after promises of up to 16 percent returns before the company fell into financial trouble. There were allegedly 150 investors involved in the process.

The wife and son of the businessman were also accused but not charged for some level of participation in the alleged scheme. The businessman posted $100,000 bail so that he could remain out of custody until his sentencing date which was set for April 4, 2012.

Source: Fox News, "Religious Fla prep school a victim in $135M fraud," Jan. 25, 2012