Michael Wayne Williams was sentenced to one year and one day in prison for using his hedge fund management company as part of a Ponzi scheme, the Justice Department said Friday.
Williams, who pleaded guilty in October of 2023 to wire fraud, convinced victims to invest over $3.6 million, which he used for undisclosed and unauthorized purposes, according to the DOJ.
He was the founder and operator and investment manager of Highguard Capital and its affiliated entities, Guardian Opportunity Fund and Guardian Opportunity Management, the DOJ said.
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