Judge Considers Merits of Bindover
Joel I. Wilson, the man extradited from Germany to face racketeering and larceny charges, will be waiting another few weeks before finding out the future of his case.
In a recent hearing, Bay County District Judge Dawn A. Klida was asked by the prosecution to bind the case over to circuit court for trial, but Wilson’s defense attorney objected, saying that the majority of the charges were improper due to the circumstances of the case.
And so instead of making a decision at the time, Judge Klida asked both attorneys to present her with additional documents that pertain to the case within a week. She then intends to review them and will issue a decision in writing.
Wilson is facing three counts of fraudulent sale of securities, and three counts of sale of unregistered securities, both of which are felonies punishable by up to ten years in prison. He is also charged with single counts of continuing a criminal enterprise or racketeering, which is a twenty year felony, larceny by conversion $20,000 or more, and larceny by conversion between $1,000 and $20,000.
Michigan Assistant Attorney General Norm Donker brought a single victim in to testify before requesting that the case be bound over for trial. David R. Charlesbois, a local man who lost thousands of dollars to Wilson’s alleged Ponzi scheme. According to his testimony, Charlebois met with Wilson, who pitched him the idea of buying homes in the area, refurbishing them, and then selling or renting them.
Over the next few months, Charlesbois signed many documents, few of which he read, and transferred large sums of money over to Wilson’s account. “I trusted Mr. Wilson,” he said. “He received good writeups in the newspaper. Everybody said it was a good investment.”
But Wilson’s attorney, Kolodziejski, objected on the grounds that, when cross-examining the investors, who lost money in Wilson’s investment company and testified against him, did not do their due diligence in researching the investments that Wilson was doing. Instead, they chose simply to accept Wilson at his word, even though it is a commonly known fact that real estate investments can be risky.
Get the defense, advice and legal support needed if you, or someone you love, are accused of starting a Michigan Ponzi scheme. Contact a Michigan criminal defense attorney today. 1 866-7nojail.