Jury selection is beginning in the trial of David McQueen, a Grand Rapids-area man who is accused of a $46 million investment scheme that left hundreds of people broke.
He was a successful insurance salesman who gathered money from investors and invested it with another company that was a fraud. Instead of telling the truth and what happened to their money, McQueen continued to tell the investors their money was safe, according to the government.
On Tuesday, Jury selection starts in Grand Rapids federal court.
He is accused of keeping $100,000 a month for himself and giving monthly payments to investors with cash he received from other investors.
He denies fraud and money laundering charges and said that he relied on legitimate legal advice.
Prosecutors acknowledge that McQueen began with a legitimate plan but then altered the course.
News Source: www.FreeP.com