Thursday, September 13, 2012

Winan operated Scam

One of the Winans gospel music family is facing fraud charges in Detroit. Authorities say Michael Winans Jr. operated a Ponzi scheme, where investors lost more than $8 million. Winan's lawyer says his client plans to plead guilty and try to repay the people who lost money. He sold the bogus oil bonds, knowing they were worthless, to more than one thousand church-goers. Michael Winans Jr. is the grandson of Mom Winans and Pop Winans and the son of a member of The Winans, a quartet of brothers. Authorities say the scam did not involve other members of the Winans family.

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