Accused Mid-Michigan ponzi scheme operator arrested in Germany

Michigan's Attorney General, Bill Schuette, announced that Joel Wilson, a 31-year-old from Saginaw, was caught in Germany by the Dresden police.

They caught Wilson on January 20th. INTERPOL then notified the attorney general's office of his capture on January 21st.

Wilson is accused of running a ponzi scheme worth nearly $500,000. The scheme collected money from investors in order to purchase, fix up, and resell homes in Saginaw and Bay City.

The attorney general's office says Joel Wilson kept part of the money for himself while recycling some for other investors as well.

Wilson left for Germany in late 2012 as the investigation into the alleged ponzi scheme was ongoing.

â??Victims of scam artists deserve to see justice served, and we will fight as long as it takes,â?? said Schuette. â??Financial exploitation is a growing crime in Michigan, and we are cracking down on these con artists. Be skeptical of anyone who promises huge returns for a small investment.â??

Officials prosecuted another person that they said was also involved in the scheme. Shawn Dicken, a 40-year-old from Bay City, was charged with conducting criminal enterprises, embezzlement, securities fraud and more. Dicken is scheduled to go to trial on March 3rd of this year.

The process to extradite Wilson from Germany now begins.