Ohio Man Sentenced for Aiding and Abetting in $8 Million Investment Fraud Scheme

BUFFALO, N.Y. – An Ohio man has been sentenced to 18 months probation for aiding and abetting his brother in an $8 million investment fraud scheme.

William W. Wilson, 23, of Columbus, Ohio, was convicted of aiding and abetting his elder brother, Michael Wilson, in the possession of money unlawfully taken from a federally insured bank. The scheme involved several companies allegedly controlled by Michael Wilson, and known generally as New Frontier Holdings.

According to Assistant U.S. Attorney Paul J. Campana, who handled the case, William Wilson assisted his older brother in July 2010 in obtaining $71, 875 from an investor who resided in Utah. The investor sent the money through a California-based escrow agent in two separate wire transfers four days apart. Nearly all of the funds, however, were immediately frozen and later seized through the efforts of the FBI, the Internal Revenue Service, and the U.S. Attorney’s Office. The money subsequently was returned to the victim investor.

Michael Wilson, 26, of Toronto, Ontario, is charged in a 47-count indictment returned by a federal grand jury in December 2010. The indictment charges Michael Wilson with the $8 million investment fraud scheme. Michael Wilson was arrested in Canada in July 2013 on an extradition warrant arising from the indictment. Michael Wilson’s extradition hearing in Canada is scheduled for December 12, 2013.

The investigation into the scheme was led by Special Agents of the Federal Bureau of Investigation, under the direction of Special Agent in Charge Brian P. Boetig, and the Internal Revenue Service, Criminal Investigation Division, under the direction of Special Agent-in-Charge Toni M. Weirauch.

Chief U.S. District Judge William M. Skretny sentenced William Wilson to 18 months probation, noting that William Wilson did not benefit financially from his role in the offense.

The sentencing comes as Michael Wilson faces charges in a federal grand jury indictment, and as law enforcement continues to unravel the complex web of companies allegedly controlled by Michael Wilson.

RELATED: Drug Lord Gets 7 Years

RELATED: Togo National Gets 6 Years in $3M Money Grab