A former bank vice president pleaded guilty Monday in U.S. District Court in Boston in connection with an investment scheme involving fraudulent loans to professional athletes.

Her co-defendant, a former New England Patriots player, pleaded guilty to similar charges last week.

Susan Daub, of Coral Spring, Florida, pleaded guilty to two counts of wire fraud, one count of conspiracy and one count of money laundering. Will D. Allen, of Davie, Florida, pleaded guilty on Nov. 14, to two counts of wire fraud, one count of conspiracy and one count of money laundering. Allen and Daub were arrested on criminal charges in June 2015 after being sued by the Securities and Exchange Commission in April 2015.

Between 2012 and April 2015, Allen and Daub defrauded investors out of millions of dollars by telling them that the funds would be used to back high-interest, short-term loans to professional athletes through Capital Financial Partners (CFP), Allen and Daub’s Massachusetts-based company. Although CFP did make some loans to athletes, Allen and Daub also diverted millions of investor dollars to themselves and other business ventures. In total, the two obtained $35 million in investments. To date, they have repaid less than $22 million.

Under the charge of wire fraud and conspiracy, each count could mean up to 20 years in prison, three years of supervised release, a fine of up to $250,000 (or twice the gross gain or loss) and restitution. Money laundering provides a sentence of up to 10 years in prison, three years of supervised release, a fine of up to $250,000 (or twice the gross gain or loss) and restitution.

Daub’s sentencing is scheduled for Feb. 13, 2017. Allen is scheduled for sentencing on Feb. 9, 2017.