A Beverly Hills investment advisor accused of using millions of dollars from investors to bankroll girlfriends’ businesses and finance a movie pleaded guilty Wednesday to federal fraud charges that could lead to 20 years in jail.

Michael E. McCready, 47, admitted to swindling at least 25 clients out of $9 million in a Ponzi scheme in which new clients’ money was used to pay off other investors.

The plea agreement came on the same day a civil lawsuit was filed in Superior Court in Los Angeles by more than 20 of McCready’s purported victims. Many of them work in the entertainment business and considered themselves friends of McCready.

According to the plea agreement, McCready was a licensed securities broker and investment advisor operating in Beverly Hills. He ran the business under many names, most recently McCready & Associates. In the filing, McCready said he told his clients he was investing the money in traditional securities, such as stocks, bonds, mutual funds and annuities.

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