Detroit — A judge won't extend the deadline for Michael Winans Jr. to report to federal prison for financial fraud.
Winans is a member of the gospel music Winans family. He's due to start a nearly 14-year prison term on May 9, but he wants 60 days to clear up what he considers to be "major errors" in the case.
Detroit federal Judge Sean Cox said no Thursday.
In a court filing, Winans says he should be held responsible for $1.2 million in losses, not $8 million.
He blames his former attorney for wrong calculations. He says some money paid to investors was kept by "middlemen."
Winans pleaded guilty to selling bogus Saudi Arabian oil bonds. In February, prosecutors said about 600 people still were owed more than $4 million.
Winans is a member of the gospel music Winans family. He's due to start a nearly 14-year prison term on May 9, but he wants 60 days to clear up what he considers to be "major errors" in the case.
Detroit federal Judge Sean Cox said no Thursday.
In a court filing, Winans says he should be held responsible for $1.2 million in losses, not $8 million.
He blames his former attorney for wrong calculations. He says some money paid to investors was kept by "middlemen."
Winans pleaded guilty to selling bogus Saudi Arabian oil bonds. In February, prosecutors said about 600 people still were owed more than $4 million.
- 5/3/2013
- by AP
- Huffington Post
Michael Winans Jr., a member of a the famous Winans family of gospel musicians, has been sentenced by a Detroit federal judge to 13 years, nine months in prison for his role in an $8 million investment scheme. He has also been ordered to pay $4.8 million in restitution to his victims, reports Upi.
Before sentencing Winans, U.S. District Judge Sean Cox chastised Winans for taking advantage of "good, decent, church-going people."
"This is very, very troubling to me ... You used ... churches to perpetuate this fraud," Cox said at the sentencing.
Winans admitted that he had made mistakes and acknowledged the financial and emotional damage he caused for his victims. He said that was "no malicious intent on [his] part" and that he just "wanted people to have a good life."
Prosecutors alleged Winans' scam hurt over 1200 investors.
Winans is the son of Michael Winans Sr., the older brother to perhaps the most famous of the Winans family,...
Before sentencing Winans, U.S. District Judge Sean Cox chastised Winans for taking advantage of "good, decent, church-going people."
"This is very, very troubling to me ... You used ... churches to perpetuate this fraud," Cox said at the sentencing.
Winans admitted that he had made mistakes and acknowledged the financial and emotional damage he caused for his victims. He said that was "no malicious intent on [his] part" and that he just "wanted people to have a good life."
Prosecutors alleged Winans' scam hurt over 1200 investors.
Winans is the son of Michael Winans Sr., the older brother to perhaps the most famous of the Winans family,...
- 2/28/2013
- by editorial@zap2it.com
- Pop2it
Detroit — A judge sentenced a member of gospel music's Winans family to nearly 14 years in prison Wednesday for an $8 million financial scam that was promoted in church pulpits.
Two of Michael Winans Jr.'s victims spoke in federal court, telling a judge that the scheme to sell Saudi Arabian oil bonds robbed some people of their life savings, caused divorces and fractured many families.
"I want to apologize to everyone. ... These were decisions that were negligent and irresponsible," said Winans, of Jessup, Md.
He said he had no "malicious intent" but acknowledged that he continued to collect money even after he learned that the bonds were bogus.
Winans attracted more than 1,000 investors in 2007 and 2008, although he didn't know them all because many were recruited by others through word of mouth. He promised 100 percent returns in two months, then used the money for personal expenses or to pay off earlier investors.
Two of Michael Winans Jr.'s victims spoke in federal court, telling a judge that the scheme to sell Saudi Arabian oil bonds robbed some people of their life savings, caused divorces and fractured many families.
"I want to apologize to everyone. ... These were decisions that were negligent and irresponsible," said Winans, of Jessup, Md.
He said he had no "malicious intent" but acknowledged that he continued to collect money even after he learned that the bonds were bogus.
Winans attracted more than 1,000 investors in 2007 and 2008, although he didn't know them all because many were recruited by others through word of mouth. He promised 100 percent returns in two months, then used the money for personal expenses or to pay off earlier investors.
- 2/27/2013
- by AP
- Huffington Post
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