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(Omaha, NE) -- Former Omaha City Councilman Vinny Palermo has pleaded guilty to wire fraud. In exchange for his guilty plea Palermo had eight other charges dropped including honest services fraud, conspiracy to commit honest services fraud, and bank fraud. Palermo will spend 21 months behind bars if the plea deal is accepted and could be hit with a $250,000 fine. He's one of four people from Omaha charged in the fraud investigation involving the Latino Peace Officers Association, along with Richard Gonzalez, Jack Olson, Johnny Palermo.