Winans Jr. Sentenced to 14 Years for $8M Ponzi Scheme

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Proof that there are bad apples in every basket, EURWEB reports that  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.

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