the republic logo

Michigan woman gets 23 months-10 years in Ponzi scheme, ordered to help repay $2.6 million

bug
Share/Save/Bookmark

LANSING, Michigan — A judge has sentenced a woman to 23 months to 10 years in prison and has ordered her to help make $2.6 million in restitution to people who were defrauded in a Ponzi scheme.

The Michigan attorney general's office says Mary Faher of Stevensville was sentenced Tuesday for securities fraud. The 57-year-old worked for The Diversified Group Advisory Fund LLC.

Faher pleaded no-contest in July in Berrien County District Court. The plea isn't an admission of guilt but lets a judge convict and sentence her.

Last week, a jury convicted 32-yer-old company owner Joel Wilson of securities fraud. His sentencing is April 27.

Last June, a judge sentenced Shawn Dicken of Bay City to 11 years, 8 months to 20 years in prison for her role in the scheme.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.