'X-Men' director Bryan Singer accuser Michael Egan indicted on fraud charges

CHARLOTTE, N.C. (KABC) -- Michael Egan, a former child model and aspiring actor who once accused "X-Men" director Bryan Singer of sexually abusing him as a teen, has been indicted on securities fraud and wire fraud charges.

Egan sued Singer earlier this year, claiming the director raped him numerous times starting when he was 15 years old until he was 17. Singer has consistently denied the claims through his attorney. Egan eventually dropped the suit.

According to the U.S. Attorney's Office in North Carolina, Egan, 32, allegedly ran a financial scheme in which he enticed investors by lying about his personal assets, financial background and professional connections.

The indictment, which was handed down in Charlotte on Wednesday, states that Egan pulled off this scheme by forging brokerage account statements to reflect fake balances.

According to the indictment, Egan did not invest his victims' funds as promised. Instead, he allegedly used the money to pay for personal expenses like rent, car lease, groceries, restaurant and medical bills and pet care.

If convicted, Egan faces a maximum sentence of 20 years in prison and a $5 million fine for the securities fraud charge and 20 years in prison and a $250,000 fine for the wire fraud charge.