ST. PAUL, Minn. (AP) — A Minnesota man who once posed as Scottish nobility now faces federal fraud charges.

Sixty-four-year-old Colin Chisholm was sentenced last January to nearly two years in prison for welfare fraud. On Friday, the U.S. Attorney's office said Chisholm is accused of stealing more than $2 million from investors in a phony television network startup.

Chisholm was indicted on wire fraud and mail fraud. The Star Tribune reports he made his initial appearance in federal court in St. Paul.

Minnesota Commerce Commissioner Mike Rothman says Chisholm lied to investors who thought they were financing a new business enterprise.

Chisholm and his wife were living in a mansion on Lake Minnetonka and owned a yacht during part of the time they were illegally receiving welfare and other benefits in Minnesota and Florida.