The news first broke in 2008 that singer Michael Winans Jr. was in deep trouble, accused of running a ponzi scheme that defrauded friends and church member out of millions.
My Fox Detroit reports that the member of the legendary Winans family is being charged by the federal government with taking more than $8 million from over a thousand victims.
Winans allegedly spoke at local churches where people were impressed to be addressed by someone in the famous Winans family.
According to broad federal sentencing guidelines Winans could be facing serious jail time or only be required to pay restitution. The law states that a mail and wire fraud are punishable by imprisonment for not more than 20 years and a fine of not more than $250,000 (not more than $500,000 for organizations). Conviction may also result in probation, a term of supervised release, a special assessment, a restitution order, and/or a forfeiture order.
“When you think of the Winans, you think of prominent people,” one woman told My Fox Detroit.
Michael Winans, hooked people by promoting a Saudi Arabian oil bond that was paying huge dividends.
“He did get up and speak and basically he said that the crude oil bond is real,” one man said.
But the feds say his Saudi oil bond and his investments were all fake.
Watch the video below for more details and visit My Fox Detroit for the full report.
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