Deals
Detroit Man Indicted in $200 Million Ponzi Scheme
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A 73-year-old Michigan man was indicted on 59 counts of mail fraud in connection with a decade long, $200 million Ponzi scheme that ensnared hundreds of investors in Detroit and across the country, the Justice Department said.
Edward P. May faces as many as 20 years in prison on each count, U.S. Attorney Terrence Berg said in a statement. May is expected to appear in federal court in Detroit later today.