A Long Island investment adviser pleaded guilty to fraud charges yesterday in a Ponzi scheme that defrauded investors out of more than $30 million.

Edward T. Stein of Roslyn, N.Y., an investment adviser, pleaded guilty to wire fraud and four counts of securities fraud at a hearing before US Magistrate Judge James Orenstein in Brooklyn.

Stein, 59 years old, faces up to 20 years in prison on the fraud charges.