Guilty Plea in Investment Scheme: A Willard,...

Guilty Plea in Investment Scheme: A Willard, Mo., man pleaded guilty to state and federal charges in a scheme that prosecutors say bilked about 1,000 Californians out of at least $4 million. Steven R. Babbidge, 46, may have fraudulently collected as much as $6 million in the real estate scam, which lasted from April, 1987, until late July, U.S. Atty. Jean Paul Bradshaw said. Missouri Atty. Gen. William Webster said Babbidge allegedly sold more than $4 million of partnerships to Californians who believed that he was going to buy and develop trailer parks in Missouri.