Bryan Singer's Accuser Pleads Guilty to Fraud

4/28/2015 6:09 AM PDT

Michael Egan -- Bryan Singer's Accuser Pleads Guilty to Fraud


Michael Egan -- the man who accused "X-Men" director Bryan Singer and other Hollywood big wigs of sexually assaulting him when he was a minor -- has pled guilty to fraud, but it will only cost him money and not time behind bars.

As part of the plea deal in North Carolina, Egan will repay $304,860 ... but avoided a jail sentence. 

Egan was accused of luring investors by making false claims about his financial background, personal assets and financial relationships. Once he snagged the money, Egan would use the loot to pay his bills.

Egan's lawsuit against Singer and prominent Hollywood producer Garth Ancier crumbled and he withdrew the case.

One of the men Egan accused has fired back with a defamation lawsuit.