Gladwyne real estate developer Michael Pouls pleaded guilty Monday to committing fraud to get $13 million in bank loans, Philly.com reported.
The U.S. Attorney's Office said in October that Pouls had misrepresented his wealth to National Penn Bank. He is set to be sentenced March 11, according to Philly.com.
Also on Monday, Curbed Philly reported that the Pouls family had a buyer under contract for their Mirabeau Lane home, whose asking price had most recently been $3.8 million.
The home and one of the Pouls daughters were once featured on the MTV program Teen Cribs.