Michael Winans Jr., grandson of Delores "Mom" Winans and David "Pop" Winans Sr. of the famous gospel family, was sentenced yesterday (Feb 27) to approximately 14 years in prison for an investor fraud scheme that scammed $8 million from people out of their life savings, the financial extortion pitched to church-goers from pulpits.
The scam consisted of a scheme to sell Saudi Arabian oil bonds, which ended up being illegitimate, but he continued to collect money after he learned they were fake. In the process, victims were robbed of their life savings that financially and emotionally broke families.
In 2007 and 2008, Winans courted over 1,000 investors and promised 100 percent in returns. Six hundred of those investors are still owed $4.7 million, money that Winans used for personal costs of living and the payback of previous investors.
During the sentencing, U.S. District Judge Sean Cox read the letters of victims, one mentioned that a young woman had to join the Army because her family had lost money that was intended for her college education.
"I want to apologize to everyone. … These were decisions that were negligent and irresponsible," said Winans, 30, in federal court. "I caused financial and emotional damage. For that I repent,” he told the judge.
The famous Winans sibling performed with his cousins as part of the group Winans Phase II, and released a solo album in 2011 called My Own Genre.
It’s a sad story for Michael Winans Jr., the one-time gospel singer and producer. The Michigan native has been sentenced to 14 years in prison after being convicted of running an elaborate investment scam that cost investors millions of dollars. This lengthy sentence comes as a result of a high profile court case, which included testimony from victims who lost their life savings due to his fraudulent activities.
For many, this is yet another example of someone using their position within society to take advantage of vulnerable individuals. But what led up to this outcome? How did he manage to perpetrate such an intricate fraud with impunity for so long? And why were those affected by his actions not able to recognize it sooner?
Answers to these questions may be hard to come by, but one thing remains certain; justice has finally been served in the form of a 14 year prison sentence for Michael Winans Jr.
Background Of The Case
Michael Winans Jr. was recently sentenced to 14 years in prison for an elaborate investment scam that he ran from 2008-2012. He had originally been charged with 33 counts of wire fraud, which carries a maximum penalty of 20 years per count.
Winans Jr., the son of Grammy Award-winning gospel singer and producer Michael Winans Sr., promised investors high returns on investments they made with him through his company, World Wide Christian Ministries LLC (WWCM). In reality, their money went toward funding a lavish lifestyle full of exotic cars, luxury vacations, and expensive jewelry purchases.
The victims were all members of Detroit’s close-knit religious community; many trusted Winans because of his family name and commitment to faith-based initiatives. Unfortunately, this trust was misplaced as Winans used the funds for personal gain instead of returning profits back to the investors like he’d promised them. Ultimately, it cost hundreds of people millions of dollars in losses.
Consequences Of The Crime
The consequences of Winans’ crime were severe. He was arrested and charged with 33 counts of wire fraud, each carrying a maximum penalty of 20 years in prison. At his sentencing hearing, the judge noted that Winans had shown ‘intentional cruelty’ to those he’d scammed out of millions. Ultimately, he was sentenced to 14 years in prison.
In addition to jail time, Winans was ordered to pay $5 million in restitution for the losses suffered by his victims. The money will be used to reimburse them for their investments as well as cover other costs associated with the scam such as attorney fees and lost wages due to missed work days spent dealing with legal matters related to the case.
This ruling serves as a reminder that criminal behavior has serious consequences and should not be taken lightly. It is important that we all remember this when considering taking part in any kind of illegal activity – no matter how minor it may seem at first glance.
Conclusion
In conclusion, Michael Winans Jr. has faced significant repercussions for his elaborate investment scam. His crime involved defrauding hundreds of people out of millions of dollars and he ultimately received a 14-year prison sentence. This shows that no matter how powerful someone may appear to be, they can still face the consequences of their actions if they break the law.
Winans’ sentencing serves as an example to all those who might consider engaging in similar activities. It’s important to remember that there are serious consequences for any kind of fraud or illegal activity, so it’s best to avoid them altogether. In addition, it is essential that everyone does their due diligence when investing money; researching potential investments thoroughly before putting down any cash can help prevent situations like this from happening again in the future.
Ultimately, what happened with Winans’ case should serve as a warning to anyone considering taking part in such fraudulent schemes: follow the law and do your research, or you could end up paying dearly for it.
