Dante DeMiro appeared in U.S. District Court in Port Huron for a hearing
on a request by his high-profile attorney to withdraw from the
Ponzi scheme case in which Mona Shores is one of several alleged victims.
Mona Shores Public School officials, residents, and attendees were stunned
to hear FBI allegations in September that the school district lost up
to $3.7 million in an alleged Ponzi scheme operated by DeMiro. DeMiro
had been a respected figure, trusted by the district with financial matters
Lapeer County, Comstock Township, a credit union in Iowa, and a bank in
Virginia are all alleged victims in the Ponzi scheme. DeMiro purportedly
used Mona Shores’ $3.5 million in bond proceeds intended for school
improvements to pay Lapeer County and Comstock Township for CD’s
he actually never purchased.
After the judge granted DeMiro’s attorney request to withdraw due to a
conflict of interest, DeMiro was taken into custody. DeMiro is facing five felony counts for
bank and wire fraud, and has requested a public defender in the case.