Video: Judge sentences Michael Winans Jr. to 165 months in prison for Ponzi scheme

pinit fg en rect gray 28 Video: Judge sentences Michael Winans Jr. to 165 months in prison for Ponzi scheme
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michaelwinansjr Video: Judge sentences Michael Winans Jr. to 165 months in prison for Ponzi schemeAccording to My Fox Detroit, Michael Winans Jr. has been sentenced to nearly 14 years in prison for a Ponzi scheme that cheated many people out of millions of dollars.
Fox 2 News Headlines

Two of Michael Winans Jr.’s victims spoke in federal court, telling a judge that the scheme to sell Saudi Arabian oil bonds robbed some people of their life savings, caused divorces and fractured many families.

“I want to apologize to everyone. … These were decisions that were negligent and irresponsible,” said Winans, of Jessup, Md.   He said he had no “malicious intent” but acknowledged that he continued to collect money even after he learned that the bonds were bogus.

U.S. District Judge Sean Cox read from some of the 50 letters written by victims. He said a young woman joined the Army because her family had lost money that was intended for her college education. He noted that Winans made his pitch from church pulpits.   “Fraud on good, decent church-going people — that was very, very troubling to me.” Cox said.

Michael Winans Jr. is the son of Michael Winans Sr. of the famous Winans gospel music family.

MeterTwo250x250 Video: Judge sentences Michael Winans Jr. to 165 months in prison for Ponzi scheme Video: Judge sentences Michael Winans Jr. to 165 months in prison for Ponzi scheme
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  1. HOLMES,MYRA says

    may u minister to someone where u are going to change the course of their lives for GOD’s Kingdom. BE BLESSED!

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