He used to hang out with big time celebrities, but soon Michael Winans, Junior will likely be hanging around with federal inmates. This week, the pop and gospel singer will be sentenced for running a multimillion dollar Ponzi scheme.
You would never fall for a Ponzi scheme. People that do that are stupid and greedy. Well, you’re wrong. I think after you read this story, you’ll understand how Winans tricked people into his scams and how this crime not only cost people their investment but really ruins lives.
How do you steal $8 million? Get people to trust you. Get people to think you’re an important guy. Get people to think they would be crazy not to believe you.
If you’re already famous, like Michael Winans, Junior from the most respected family in gospel music, you too can steal $8 million like Winans did.
I first exposed Winans back in 2008. People told me Winans had talked them into investing in a Saudi oil bond. Winans said he was already wealthy and wanted to teach average people how to invest like rich people do.
However, I found out there was no Saudi oil bond. Winans had taken money from more than 1,000 people to invest in something that didn’t exist. It was a complete sham made up by Michael Winans.
It was a big story and made national news since this guy was a member of the Winans gospel music family, a recording star and a friend of big time celebrities. But he didn’t have any of his family or friends waiting for him after he plead guilty to wire fraud a few months ago, just me.
“Got anything to say to your victims?” I asked him.
“No comment,” he answered.
CLICK HERE to read story
article courtesy of MyFoxDetroit.com
Winans To Be Sentenced This Week For Running Ponzi Scheme was originally published on praisecleveland.com