Authorities: Investment Scheme Costs Seniors $2M

By: Associated Press
By: Associated Press

BAY CITY, Mich. (AP) -- Authorities say a Michigan woman took part in an investment scheme that defrauded senior citizens out of more than $2 million.

Michigan Attorney General Bill Schuette on Monday announced charges against 39-year-old Shawn Dicken of Bay City, saying the fraud included nine victims.

Dicken's next court date is Sept. 25. Her lawyer Jason P. Gower says his client is innocent and is a whistleblower.

Schuette says Dicken was employed starting in 2011 in sales for The Diversified Group Advisory Firm LLC, a former investment company, and during that time told senior citizens that potential investments were without risk and guaranteed an at least 9.5 percent rate of return.

Schuette says the scheme was operated by Joel Wilson of Saginaw, who was charged in January and is considered a fugitive.

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