Ralph Eugene Mirarchi, 68, entered what the prosecutor called a "hybrid plea agreement." Mirarchi, whose practice was Mirarchi Law Associates in Tredyffrin Township, admitted stealing $1.32 million from three clients.

He pleaded guilty to two counts of theft and agreed to liquidate real estate to make restitution. Chester County Court Judge Thomas G. Gavin agreed to defer sentencing until July 21.

"The more money he comes up with, the less jail time he'll receive," Assistant District Attorney Thomas Ost-Prisco said.

Ost-Prisco said he believed a best-case scenario would return $900,000 to $950,000 to the victims and send Mirarchi to county prison. If Mirarchi fails to make any restitution, he will spend five to 10 years behind bars, Ost-Prisco said.

Defense attorney Randi J. Vladimer said Mirarchi had surrendered his law license.

Ost-Prisco said it would have been difficult to recover damages without the unusual agreement because Mirarchi had his wife, Dorothy, put the Avalon home in her name five years ago, when the thefts were occurring.

"It's in his best interest to get her to sell," Ost-Prisco said.

The case began after Paul Pezzotti Sr., who hired Mirarchi in the 1980s to handle retirement investments, wanted to make funding changes in July 2006, the criminal complaint said. After Mirarchi resisted for several months, Pezzotti's two sons met with Mirarchi, who confessed he had "squandered away their father's certificate of deposit worth over $892,000," the complaint said.

Two other victims came forward after news reports of Mirarchi's arrest, Ost-Prisco said.

Yesterday, Pezzotti, 76, described the devastating effect of his loss. He said that when he started a nursery and landscaping business years ago, he wanted to make sure he had retirement income.

"I never took a vacation," he said.

Now, even after heart surgery, he is still working.

Mirarchi held his head high as he left the courtroom in shackles, avoiding eye contact with the victims and their families. He will get credit for jail time served before his sentencing.

"No comment," Vladimer said as she left the courtroom.