Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Man Charged in Latest Detroit Ponzi Scheme Case

Brian Marsack, of Chesterfield Township, has been charged with stealing the life savings of at least three individuals. The alleged victims include a 91-year-old man, Edward Mancini, and his now-deceased wife, Joan. The Mancinis had known Marsack since he was a child.

"He approached my wife, Joan, a couple of years ago and told her he was doing some day trading," Mancini told The Oakland Press. "He said he could make her some money."

The prosecution alleges that Marsack posed as a stockbroker and solicited more than $1 million from the alleged victims. He allegedly told the investors that their funds would be put into investment accounts with Goldman Sachs. He also allegedly sold investors one-year CDs that promised 7 percent interest.

According to the police, Marsack never invested any of the funds. Instead, investigators allege, he kept the money for himself and provided falsified documents on Goldman Sachs letterhead that showed the funds were doing well. To perpetuate the alleged scheme, police believe Marsack issued "dividend checks" of $1,500 to the investors.

Marsack has been charged with three counts of larceny by false pretenses and one count of racketeering. He remains in custody on a $150,000 bond. If convicted, Marsack faces three potential 10-year sentences and one sentence of between three and four years.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram