BUFFALO, NY-- The former mayor of the City of Dunkirk pleaded guilty Wednesday to fraud.

The U.S. Attorney's Office in WNY says Richard L. Frey, 85, admitted to stealing campaign contributions for his own personal benefit.

Frey was the City of Dunkirk's mayor from 2002-2012.

Investigators say Frey defrauded business owners into making contributions to his campaign, but instead of depositing the funds into a campaign account, spent the money for his own benefit from 2003-2012. They say Frey had substantial personal debt.

The total amount of money he stole is $54,361.30.

Frey also admitted to failing to report or disclose the contributions, which is required by candidates who run for public office.

Frey will be sentenced in May. He could receive a maximum penalty of 20 years in prison and/or a $250,000 fine.