Federal authorities say a North Carolina man could face prison for an $80 million Ponzi scheme that persuaded people to invest in non-existent automatic teller machines.

Vance Moore II pleaded guilty in October to wire fraud, and conspiracy to commit wire fraud. He was scheduled for sentencing Monday afternoon in Manhattan.

Authorities said the Raleigh, N.C. resident previously agreed to forfeit $50 million and any right to properties in North Carolina and Florida.

Prosecutors said Moore falsely represented that investors had purchased more than 4,000 ATMs. They said 90 percent of the machines did not exist or were not owned by Moore.