Man Ordered To Trial In $8.5 Million Ponzi Scheme
ST. JOSEPH, Mich. (AP) — A Bay County judge has ordered a 32-year-old man to stand trial on accusations that he ran a Ponzi scheme that defrauded investors of $8.5 million.
District Judge Dawn A. Klida in Bay City ruled Friday that there's enough evidence to try Joel Wilson in the securities fraud case.
Wilson was the owner of The Diversified Group Advisory Fund LLC.
In July, 56-year-old company employee Mary Faher of Stevensville pleaded no-contest to securities fraud. In June, a Midland County judge sentenced 40-year-old Shawn Dicken of Bay City to 11 years, eight months to 20 years in prison for her role in the scheme.
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