Saginaw man arrested in Europe for alleged Ponzi scheme - ABC 12 – WJRT – Flint, MI

Saginaw man arrested in Europe for alleged Ponzi scheme

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SAGINAW (WJRT) -

(01/22/14) - Police in Europe have caught up with a Saginaw man, who was wanted for allegedly pulling off a Ponzi scheme.

Michigan Attorney General Bill Schuette says Joel Wilson was arrested Monday in Germany.

He had been hiding out for more than a year, after he was charged with defrauding investors of his company, Diversified Financial, in Bay City.

Schuette says Wilson used the money he collected to pay for his personal expenses.

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