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Published 10:44 25 Aug 2015 BST
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Appearing in federal court, Wallace admitted to accessing Facebook's computer network to send the spam messages on three separate occasions.
The 47-year-old also violated a court order not to access Facebook's computer network, and has been charged with fraud and criminal contempt.
Mr. Wallace was freed on bond and will be sentenced in December. He is facing a potential fine of up to $250,000 and three years in prison.
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