Friday, October 02, 2009
PRNewswire-USNewswire
PRNewswire-USNewswire
Edward P. May Indicted in $200 Million Ponzi Scheme
Edward P. May indicted with 59 felony counts of mail fraud in connection with a decade long Ponzi scheme affecting hundreds of metro-Detroit area individuals as well as individuals across the country.
If found guilty of all counts, May, age 73, faces a statutory maximum sentence of 20 years in prison on each of the 59 counts of the indictment. The indictment unsealed today also includes forfeiture allegations which would require May to forfeit the proceeds of the charged crimes, specifically 35 million, and all property traceable to such proceeds.
Specifically, the indictment alleges the following:
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Posted by Editor on 10/02/09 at 01:56 PM •
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