BAY CITY, 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.
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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.
