BOSTON -- A Newton man will be in court Wednesday, charged with bilking more than $10 million from at least 10 people while posing as a venture capitalist, business consultant and securities broker.

Joshua S. Fink will be arraigned in Boston Federal Court on 34 counts of wire fraud and seven counts of mail fraud, according to federal authorities.

They said made Fink told clients their money would be used for legitimate investment and business purposes for the benefit of those individuals.

Instead, according to his indictment, Fink diverted funds that had been entrusted to him for investment and other business purposes and used them for his own personal expenses, such as paying credit card bills, purchasing automobiles, trading securities in his personal securities account, and obtaining cash.

Fink's alleged victims, according to federal prosecutors, include a single mother of two who entrusted her deceased husband's assets to Fink, only to see the money disappear.

Other victims include the elderly parents of a childhood family friend who lost tens of thousands of dollars.