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Ponzi Scheme Conviction Announced By Attorney General Cox

Michigan Attorney General Mike Cox
Michigan Attorney General Mike Cox

(Lansing, MI)  --  Scott Pionk will spend the next four to ten years in prison for orchestrating a two-million-dollar Ponzi scheme.  Michigan Attorney General Mike Cox said yesterday that Pionk's guilty plea had been accepted by Macomb County Circuit Court Judge Diane Druzinski, with the sentence also handed down the same day.  Victims in Macomb, St. Clair and Oakland Counties could receive restitution once the court determines that within the next 60 days.  The 42-year-old Pionk pled guilty to using fraudulent practices to sell unregistered bogus securities between 2003 and April 2010.