Wire Fraud Charges, Alleged Ponzi Scheme

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My question involves criminal law for the state of: MA

My 'friend' was cited in a two-count information charging him with wire fraud. Some kind of "Ponzi" scheme. What's the next step? Someone mentioned that often if someone is served with an information that they've given up the right to a trial? What's going to happen to him?

[Mr. Knowitall]

Your "friend" has a lawyer advising him, and that's wise.

He will either work out a plea bargain, by some miracle convince the prosecutor to drop the charge, or go to trial.