A Käne'ohe man has been charged in federal court with defrauding a local family of more than $2 million and using some of the money to buy two Porsche automobiles.

A criminal complaint was filed yesterday against Albert J.K. Perkins IV, accusing him of interstate transportation of the stolen money.

Assistant U.S. Attorney Lawrence Tong said Per-kins, 34, has agreed to plead guilty to the charges against him at a Dec. 16 hearing.

Perkins' defense lawyer, Todd Eddins, could not be reached for comment.

The government charged that in 2007-2008, Perkins used two companies he owned, Asset Management Advisors Inc. and CNRG Corp., in a scheme to unlawfully gain control of clients' money.

The victims were an unidentified family that owned real estate here worth $2.9 million and wanted to liquidate the holdings "to pay anticipated medical and nursing home costs of a family member," the government charged.

Perkins falsely told his victims that he could arrange for the funds to be invested in certificates of deposit that purportedly paid interest returns of 18 or 20 percent annually, according to court documents.

The government charged that $2.9 million was transferred into an account controlled by Asset Management Advisors in April 2008 and a day later Perkins arranged for $2 million of that money to be wire-transferred to a bank account in Virginia.

Tong said he could not discuss what became of the money, although the government is seeking to recover two Porsche automobiles that Perkins allegedly purchased with some of the funds.

The vehicles are described as a yellow 1999 Carrera Cabriolet and a gold 2002 911 convertible.