On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 1450 AM Holland, MI

Weather

Current Conditions(Holland,MI 49422)

More Weather »
57° Feels Like: 57°
Wind: WSW 3 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Sunny 74°

Tonight

Mostly Clear 54°

Tomorrow

Mostly Sunny 77°

Alerts

Saginaw man charged in Ponzi scheme

by

SAGINAW (WKZO) -- Michigan Attorney General Bill Schuette has filed several charges against a Saginaw man for operating a Ponzi scheme.  Prosecutors say 30-year-old Joel Wilson took hundreds of thousands of dollars from at least three victims.

Wilson owned the investment company Diversified Group Advisory Fund LLC and told investors their money would be used to buy distressed properties in Saginaw and Bay City.  He said the home would be refurbished and sold with the profits being returned to investors.

Prosecutors say Wilson failed to make profits and used investment money to repay some of his clients.  He also allegedly used nearly 50,000-dollars to buy personal items and pay expenses.

Comments