Thursday, March 4, 2010

Winans Connected to Scam

Gospel music's Winans family may be facing a major scandal. Michigan regulators say Michael Winans Jr. led a Ponzi scheme that left hundreds of investors with more than $11 million in loses. The investment involved a Saudi Arabian crude oil bond and used the family name to "prey on church members" according to officials. The people involved, and that may include pastor Michael Winans Sr, did not have the proper licenses to sell securities in Michigan.

No comments: