*A judge sentenced a member of gospel music’s Winans family to nearly 14 years in prison Wednesday for an $8 million financial scam that was promoted in church pulpits, reports the Associated Press.
Two of Michael Winans Jr.’s victims spoke in federal court, telling a judge that the scheme to sell Saudi Arabian oil bonds robbed some people of their life savings, caused divorces and fractured many families.
“I want to apologize to everyone. … These were decisions that were negligent and irresponsible,” said Winans, of Jessup, Md.
He said he had no “malicious intent” but acknowledged that he continued to collect money even after he learned that the bonds were bogus.
Winans attracted more than 1,000 investors in 2007 and 2008, although he didn’t know them all because many were recruited by others through word of mouth. He promised 100 percent returns in two months, then, used the money for personal expenses or to pay off earlier investors. About 600 people are still owed $4.7 million.
Winans, 30, is a third-generation member of one of gospel music’s first families. He’s the grandson of Delores “Mom” Winans and David “Pop” Winans Sr., and the son of Michael Winans Sr., a member of The Winans quartet of brothers.
Winans has performed with his cousins as “Winans Phase II.” He released his own album in 2011, “My Own Genre.”
Winans relied on unwitting friends to round up investors, a trait of a classic Ponzi scheme. When the bonds turned out to bogus, investors angrily turned on the people who recruited them.
“There are lots of marriages that have been destroyed. I know family members who aren’t speaking to each other,” Tara Hurt told the judge.
U.S. District Judge Sean Cox read from some of the 50 letters written by victims. He said a young woman joined the Army because her family had lost money that was intended for her college education. He noted that Winans made his pitch from church pulpits.
“Fraud on good, decent church-going people — that was very, very troubling to me,” Cox said.
So sad.
No offense to the victims who lost money, but purchasing Saudi Arabian oil bonds sounds silly as hell (to me). I’m just sayin’.
@Tejay…Right? Saudi Arabian oil bonds doesn’t even sound right, but when it comes from a “Winan” and you’re trying to be in the click…you get taken.
And that’s why it’s sad. He used his family’s name and probably their pulpits to scam people. Folks also need to learn how to do more research before jumping into business ventures so quickly. My first thought would have been- how does he have a connection for Saudi Arabian oil bonds?
“No malicious intent BUT, continued to collect money even after he learned the bonds were bogus”. that’s one trifling mutherfvkker. I hope they get their money back and I hope they learned something.
nightshift > > > I agree with you, and since the Winans family have money they should try and help some of these people financially as much as they can.
Let me correct myself. The Winans shouldn’t have to pay for Michael’s ignorance, so what they should do is disown him for life.
Just kill him now and put him out of his criminal mind,he does not care 1 moral of his disgusting mind !
It is really fk UP, that this …no talent/morals having, do NUTHing, freeloading off his relatives name, crooked ass, lazy, busted ass niggah, has put this “stain” ‘on that family’s name!! After all they’ve done, THIS lil niglet comes along & damn near wipes it away, with this…..niggativity. Fkn sad!!! The should pay those victims back?, with his fkn inheritance !! (That is, if he still haaaas one!) SMGDH!!
Just goes to show how gullible people can be for the quick easy money. Families not speaking to each other, marriages broken up; people spent childrens college money. Don’t expect the family to give these people their monies back. Some Winans have worked for what they have and they should just let him pay for what he did.
This is too bad but this is a classic example of what is happening in these denomination churches especially. People are looking at the man and not God! Too much entertainment going on in so called churches so this is what you get when you use God’s house for things other than just preaching the gospel. Church is for worship only and singing with the fruit of your lips not instruments. Where in the bible, not the OT, do you find where they had all of these ministries? This is a manmade so called church. Get of of these mega churches and denomination churches.
Singing and preaching the word of God while stealing from Gods people should = the death sentence today,why does this piece of trash get to live to see tomorrow !
Why do we do these things? Why do we put the Gospel of Christ to shame?! Why are we allowing the devil to embarrass the body of Christ?! Why are allowing sinners to always have negative things to say about the children of God?! Why do we hurt our flesh??!! Don’t we know that the body of Christ is ONE body?!! Why?! Why?! Why?! Many are afraid to come to church, because we are behaving like HEATHENS!! Don’t we know God?! Do we know GOD!!?? We need to stop making MOCKERY of the body and kingdom of GOD!! God promised exposure to secret sins!! Yes, HE HAS!!
Now you just settle down now, ya hear?
Voltaire put it well: Anyone who has the power to make you believe absurdities has the power to make you commit injustices. Glad you questioned those in power in your life.