Fall River, Massachusetts, Mayor Jasiel F. Correia II, a Democrat, is considered a rising political star in the Massachusetts Democratic Party, but his ascent may have come to a sudden halt.

Correia on Thursday was arrested by federal agents on allegations that he stole almost a quarter of a million dollars from seven people who invested in his start-up company.

He allegedly spent the money on “adult entertainment, airfare, a dating service, designer clothes, hotels, jewelry, trips to casinos and a Mercedes-Benz,” the Washington Post reported.

Correia pled not guilty to 13 counts of wire and tax fraud, telling reporters, “Not my best Thursday.”

Correia also said he is not going to resign. – READ MORE