Man cops plea in investment scam

KANSAS CITY, Mo. -- The son of a former U.S. ambassador has pleaded guilty to charges of scamming investors in a natural gas business for nearly $60,000.

William True Davis III, 53, who maintains residences in St. Joseph and Edmond, Okla., pleaded guilty to one count of mail fraud, federal prosecutors said Tuesday.

Davis is the oldest son of William True Davis II, who served as ambassador to Switzerland and assistant secretary of the treasury.

Davis admitted falsifying production reports and sending out distribution checks for natural gas wells that were not producing or did not exist.

Under the plea agreement, he could face six to 12 months in prison.