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A criminal complaint charging a self-styled preacher with fraud in a $7.5 million investment scheme that allegedly victimized 300 people was announced Wednesday by the U.S. attorney`s office in Chicago.
The charges against Michael Randy, 51, a former Chicago police officer, were made public after his arrest by federal agents at his combination home and God Is Real Church in Richton Park. A bail hearing was set for Friday.
At a court appearance Wednesday, Randy said he did not understand the charges that link him to Canadian Trade Bank, an allegedly non-existent business in which he has acknowledged selling certificates of deposit to mostly elderly investors in 14 states, including Illinois.
