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.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.