Investment club manager guilty of $40 million fraud
A Michigan-based investment club manager has pleaded guilty to fraud after losing $40 million invested by more than 750 clients
An investment manager in Michigan has pleaded guilty to fraud totalling almost $40 million in a scheme involving non-disclosed high-risk investments.
Clinton Township-based Alan Watson admitted one count of wire fraud. He will be sentenced on December 9 and faces a maximum of 20 years in prison.
Watson established the investment fund Cash Flow Financial in 2004 and served as the club's chief
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