< Former New York businessman pleads guilty to wire fraud - Canadian Fraud News Inc. | Fraud related news | Fraud in Canada

Former New York businessman pleads guilty to wire fraud

A former New York businessman who previously faced extradition from Canada had pleaded guilty to wire fraud.

According to the U.S. Attorney’s Office, 30-year-old Michael Wilson used fake companies known as “New Frontier” to cheat investors out of more than US$10 million between June 2008 and July 2010.

Wilson traveled to Toronto after learning he was under investigation. After being arrested in Canada in 2013, Wilson was released on conditions and challenged extradition to the United States in Canadian courts.

Wilson could face up to 20 years in prison and a $250,000 fine when he’s sentenced in October.

Read more at WGRZ

This article is summarized by Canadian Fraud News Inc.

Deborah McCoy – Is an investigative journalist and has over 17 years of investigation experience in both the private and public business sectors. Since joining CFN, Ms. McCoy has become a true advocate for victims of fraud and increasing the public’s awareness in fraud prevention.