MOUNT CLEMENS (AP) -- Attorney General Mike Cox says an ex-securities broker who ran a $2 million fake investment scheme has received a four- to 10-year prison sentence after pleading no contest to three charges.
Cox says Macomb County Circuit Judge Diane Druzinski sentenced 42-year-old Scott Pionk of Clinton Township on Monday. Cox says the court will decide restitution within 60 days.
In exchange for the plea, authorities dropped other charges. A no-contest plea isn't an admission of guilt.
Defense lawyer Leon Weiss tells the Detroit Free Press his client is basically a decent person and a good family man.
Cox says Pionk used his job with Michigan Securities Inc. to sell phony investments. Cox says Pionk used the money to write himself checks and make ATM withdrawals at Detroit casinos.
Published: Wed, Nov 24, 2010
