The Muskegon Chronicle reports that Dante DeMiro (duh-MEER'-oh) of Milford has been sentenced in federal court in Port Huron and ordered to pay nearly $13 million in restitution. He pleaded guilty in April to fraud."
The FBI says DeMiro received millions from clients but spent it on himself or others. Losses topped $7 million over a three-year period.
His clients included the Mona Shores school district near Muskegon; Lapeer County; Comstock Township near Kalamazoo; a credit union in Iowa; and unions. They were told their money was being put into bank certificates of deposit.
He worked in Southfield at MuniVest Financial Group.
Via Fraud lands investment adviser 10-year sentence - chicagotribune.com
