Michigan Woman Gets 23 Months-10 Years For Ponzi Scheme

LANSING, MI (AP) – A judge has sentenced a woman to 23 months to 10 years in prison and has ordered her to help make $2.6 million in restitution to people who were defrauded in a Ponzi scheme.

The Michigan attorney general’s office says Mary Faher of Stevensville was sentenced Tuesday for securities fraud. The 57-year-old worked for The Diversified Group Advisory Fund LLC.

Faher pleaded no-contest in July in Berrien County District Court. The plea isn’t an admission of guilt but lets a judge convict and sentence her.

Last week, a jury convicted 32-yer-old company owner Joel Wilson of securities fraud. His sentencing is April 27.

Last June, a judge sentenced Shawn Dicken of Bay City to 11 years, 8 months to 20 years in prison for her role in the scheme.

We welcome thoughts and comments from our viewers. We ask that everyone keep their remarks civil and respectful. Postings that contain profanity, racist, or potentially libelous remarks will be deleted. We will delete any commercial postings, as well.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s