BAY CITY (AP) — A 33-year-old Michigan man convicted of defrauding investors of millions of dollars in what prosecutors described as a Ponzi scheme is facing more prison time.
Attorney General Bill Schuette’s office says Joel Wilson of Saginaw was convicted last Thursday in a Saginaw County courtroom of charges including securities fraud.
Schuette’s office says the latest case is a result of Wilson spreading his financial crimes across multiple Michigan counties.
A lawyer for Wilson had said Wilson simply failed with his businesses and had no criminal intent.
Last year, Wilson was sentenced in Bay County to more than 8 years to 20 years in prison and ordered to pay $6.5 million.
He was the owner of The Diversified Group Advisory Fund LLC.
He was extradited from Germany in 2014 after being charged.
- Posted February 02, 2016
- Tweet This | Share on Facebook
Man convicted in Ponzi case faces more prison time
headlines Macomb
- Macomb County Meals on Wheels in urgent need of volunteers ahead of holiday season
- MDHHS hosting three, free virtual baby showers in November and December for new or expecting families
- MDHHS secures nearly 100 new juvenile justice placements through partnerships with local communities and providers
- MDHHS seeking proposals for student internship stipend program to enhance behavioral health workforce
- ABA webinar November 30 to explore the state of civil legal aid in America
headlines National
- Protecting Attorney-Client Relationships: ABA advocacy helps safeguard the right to effective assistance of counsel
- Did ‘corporate speak’ and PowerPoint lead to complacency at GM?
- Ex-employee sues Sheppard Mullin over cyberattack exposing sensitive personal data
- Ropes & Gray allows more attorneys to count AI testing toward billable hours
- Plaintiff who filed fraudulent case, trashed desktop computer hit with sanctions
- Man who threatened Supreme Court justices avoids prison time
