Michael Egan, the man who accused "X-Men" director Bryan Singer of sexually abusing him as a teenager but later dropped his lawsuit, has been indicted on wire fraud charges.

Egan, a former child star, was allegedly "engaged in a fraudulent investment scheme by inducing his victims to enter into various fictitious business and investment contacts," the Wrap reported. According to the U.S. Attorney's Office, those contacts happened from August 2007 to February 2012.

He was indicted on securities and wire fraud charges in a federal case filed in North Carolina on Tuesday. Egan engaged victims by lying about "his financial background and personal assets," showing off forged bank accounts and other documents claiming that he had millions.

He promised investors that he would fund various projects, such as Halloween themed attractions, holiday themed attractions, land development and investment deals and television shows. However, Egan reportedly spent the funds on rental property, cars, medical bills, pet care and living expenses.

For example, the indictment alleges that Egan forged brokerage account statements to "reflect fraudulent business practices when, in reality, those accounts had no money or a fraction of the purported amount," the Wrap reported. 

If convicted, Egan could be sentenced to 20 years in prison and a $5 million fine for securities fraud. He could also face 20 years and a $250,000 fine for wire fraud. 

Egan made headlines earlier this year after accusing Singer of sexually abusing him as a 17-year-old during a party in 1999. He also accused former NBC president Garth Ancier, Broadway producer Gary Goddard and former Disney executive David Neuman of assault.

However, all charges against the suspects were dropped.