A judge has accepted a new plea deal from a Detroit-area financial manager who helped the government prosecute his partner in a real estate scheme that ended with nearly $50 million in losses.
Federal prosecutors want a Detroit-area investment manager and his son to pay $44.5 million in restitution for a real-estate scheme that crashed during the recession.
A Brighton-area investment manager and his son have been found guilty in a $50 million scheme to defraud hundreds of investors.
A federal appeals court has refused to intervene and release a Southfield money manager who is facing fraud-related charges.
The founder of a Southfield-based investment fund has been arrested in New York. John Bravata, the chairman of BBC Equities, was taken into custody at JFK Airport when he returned from Italy.