A financial advisor from Altoona is looking at the possibility of 30 years in prison on fraud charges.
Federal prosecutors say Michael Shillin, the owner of Shillin Wealth Management, scammed both clients and a bank. Prosecutors say Shillin lied about buying stocks for clients and sold them insurance policies that benefited him more than his clients. The feds also say he lied to a bank to get 462-thousand-dollars in loans.
He’s charged with both wire fraud and bank fraud.
