Man convicted in Ponzi case ordered to pay more restitution

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 has been ordered to pay more restitution.

Joel Wilson of Saginaw was convicted in January of charges including securities fraud in Saginaw County. Michigan Attorney General Bill Schuette announced Tuesday that Wilson was ordered to pay more than $250,000 in restitution in that case.

Wilson sentence in Saginaw County also includes prison time that will be served at the same time as his previous sentence.

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.

Published: Thu, Feb 25, 2016