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
- Sharing some holiday cheer
- MDHHS shares latest MISEP update demonstrating strong progress and improvements made in keeping children safe
- Task force investigations result in two men arraigned on charges including armed robbery, conducting a criminal enterprise
- Law firm honors local teacher as Exceptional Educator of the Month
- Nessel announces settlements with Lannett and Bausch approaching $18M over conspiracies to inflate prices and limit competition
headlines National
- Inter American University of Puerto Rico School of Law back in compliance with ABA standard
- Chemerinsky: The Fourth Amendment comes back to the Supreme Court
- Reinstatement of retired judge reversed by state supreme court
- Mass tort lawyer suspended for 3 years for lying to clients
- Law firms in Minneapolis are helping lawyers, staff navigate unrest
- Federal judge faces trial on charges of being ‘super drunk’ while driving
