A Grosse Pointe insurance agent was sentenced to up to 20 years in prison for embezzling more than $800,000 from senior citizens.
Paul Garceau appeared in Macomb Circuit Court. He admitted to a Ponzi scheme that cheated 12 of his unsuspecting clients out of their money.
Garceau convinced them to take money out of other investments and said he would re-invest in other opportunities that would bring in more money.
Garceau made a statement, saying he was weak, and delusional.
His victims were from the Detroit area.