BAY CITY, Mich. (AP) – A 33-year-old Michigan man convicted of defrauding investors of millions of dollars in what prosecutors described as a Ponzi scheme is facing more prison time. Attorney General Bill Schuette’s office says Joel Wilson of Saginaw was convicted Thursday in a Saginaw County courtroom of charges including securities fraud. Schuette’s office says the latest case is a result of Wilson spreading his financial crimes across multiple Michigan counties. A lawyer for Wilson had said Wilson simply failed with his businesses and had no criminal intent. Last year, Wilson was sentenced in Bay County to more than 8 years to 20 years in prison and ordered to pay $6.5 million. He was the owner of The Diversified Group Advisory Fund LLC. He was extradited from Germany in 2014 after being charged.
