Woman sentenced to 23 months-10 years for Ponzi scheme

LANSING (AP) - A judge has sentenced a woman to 23 months to 10 years in prison and has ordered her to help make $2.6 million in restitution to people who were defrauded in a Ponzi scheme.

The Michigan attorney general's office says Mary Faher of Stevensville was sentenced Tuesday for securities fraud. The 57-year-old worked for The Diversified Group Advisory Fund LLC.

Faher pleaded no-contest in July in Berrien County District Court. The plea isn't an admission of guilt but lets a judge convict and sentence her.

Last week, a jury convicted 32-yer-old company owner Joel Wilson of securities fraud. His sentencing is April 27.

Last June, a judge sentenced Shawn Dicken of Bay City to 11 years, 8 months to 20 years in prison for her role in the scheme.

Published: Thu, Mar 12, 2015