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Former Altoona financial advisor indicted on federal fraud charges!– OnMyWay Mobile App User

 A former Altoona-based financial advisor faces criminal charges after the Feds say he lied to and defrauded clients.

According to the federal indictment, Michael Shillin’s company managed nearly 3,000 accounts and more than $135 million.

Last month, the Securities and Exchange Commission (SEC) filed a complaint against Shillin.

A settlement in that case was made public last week.

Wednesday, a Federal Grand Jury indicted Shillin on nine counts of wire fraud and one count of bank fraud.

The indictment claims Shillin, the owner of the now-defunct Shillin Wealth Management, engaged in a scheme to defraud clients.

Investigators say he falsely told clients he made them hundreds of thousands of dollars by purchasing stock in companies, which the SEC said was a lie.

The indictment also charges Shillin with defrauding a bank by taking out more than $450,000 in loans using a client’s banking information.

If convicted, Shillin faces up to 20 years in federal prison for each wire fraud charge and a maximum of 30 years for the bank fraud charge.

WEAU reached out to Shillin for a comment. He referred us to his attorney for a statement.

 

OVERVIEW

OnMyWay Is The #1 Distracted Driving Mobile App In The Nation!

OnMyWay, based in Charleston, SC, The Only Mobile App That Pays its Users Not to Text and Drive.

The #1 cause of death among young adults ages 16-27 is Car Accidents, with the majority related to Distracted Driving.

OnMyWay’s mission is to reverse this epidemic through positive rewards. Users get paid for every mile they do not text and drive and can refer their friends to get compensated for them as well.

The money earned can then be used for Cash Cards, Gift Cards, Travel Deals and Much, Much More….

The company also makes it a point to let users know that OnMyWay does NOT sell users data and only tracks them for purposes of providing a better experience while using the app.

The OnMyWay app is free to download and is currently available on both the App Store for iPhones and Google Play for Android @ OnMyWay; Drive Safe, Get Paid.

Download App Now – https://r.onmyway.com

Sponsors and advertisers can contact the company directly through their website @ www.onmyway.com.

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