BAY CITY (AP) — A man convicted of defrauding investors of millions of dollars in what prosecutors described as a Ponzi scheme has been ordered to pay more restitution.
Joel Wilson, 33, of Saginaw was convicted in January of charges including securities fraud in Saginaw County.
State Attorney General Bill Schuette announced Tuesday that Wilson was ordered to pay more than $250,000 in restitution in that case.
Wilson’s sentence in Saginaw County also includes prison time that will be served at the same time as his previous sentence.
Last year, Wilson was sentenced in Bay County to more than eight years to 20 years in prison and ordered to pay $6.5 million.
Wilson was the owner of The Diversified Group Advisory Fund LLC. He was extradited from Germany in 2014.
