Joseph Medawar, 44, spent much of the $3.4 million he raised from about 50 people on luxury cars and a Beverly Hills mansion for himself and the woman billed as the future star of the show "DHS," according to court papers.

Medawar, who was arrested last September, pleaded guilty to federal charges of conspiracy to commit wire fraud and tax evasion in a plea bargain that involved prosecutors dropping money laundering and other charges.

He could face up to 10 years in prison when he is sentenced in August in U.S. District Court in Los Angeles.

In print and radio interviews in 2004 and 2005, Medawar falsely claimed that "DHS" had the endorsement of President George W. Bush and then Homeland Security Secretary Tom Ridge, and that he had more than two-dozen episodes in post-production.

Only one episode was ever shot and only after Medawar became aware that he was being investigated by the FBI. A supposed trailer shown to investors was only a compilation of clips from action movies, prosecutors said.

Prosecutors said Medawar spent $23,000 to option a script written by California Republican Rep. Dana Rohrabacher (news, bio, voting record). Rohrabacher said in a statement earlier this year that he introduced Medawar to some government officials to give him an accurate picture of homeland security.

Medawar has produced a number of B movies, including "Hardbodies 2" and the horror film "Sleepwalkers."

According to court papers, Medawar spent much of the money on rent for a $40,000 per month mansion in Beverly Hills where he lived with the show's supposed star Alison Heruth, and on food, cars and entertainment. Heruth pleaded guilty last month to lying to investigators to cover up the scam.