Two Michigan Brokers Charged In Connection With Local Ponzi Scheme

Posted on January 28th, 2014 at 11:08 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

Two Michigan Ponzi schemers, Joel Wilson, 31, and Shawn Dicken, 40, were charged with defrauding Michigan victims out of millions of dollars through their investment company, The Diversified Group Advisory Fund LLC.

 Investors were told that their funds would be used to purchase distressed properties in the Saginaw and Bay City area. The properties later would be refurbished and sold for profit. As it turns out, the unregistered securities failed to turn a profit. Wilson and Dicken then used new investors’ funds to pay previous investors as well as their personal expenses and to acquire personal assets. 

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services. 

Related Attorneys: James J. Eccleston

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