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Brenda Miguel, 48, formerly of Newark, was arrested May 6 in Orlando. She pleaded guilty Wednesday in state Superior Court in Newark.
New Jersey Division of Criminal Justice prosecutors say she and another woman befriended the victim, who lives in West Orange, and pretended they needed loans for business ventures.
The other defendant, Susan Frank, 46, formerly of Elizabeth, remains a fugitive.
Miguel faces up to five years in prison at sentencing Sept. 1. She has provided partial restitution and promised to repay the remaining money.