Michael Winans Jr. Charged in A Multimillion Dollar Ponzi Scheme

Michael Winans Jr., a member of the legendary Winans gospel family, has been charged with fraud after authorities uncovered a scam involving more than $8 million and bogus oil bonds.

Winans Jr. is planning to plead guilty to the charges, according to his defense attorney William Hatchett.

The Detroit-bred singer was first accused of the crime in March 2010 by the Office of Financial and Insurance Regulation, who revealed that their 14-month investigation uncovered he was the ringleader in the crude oil bond scam.