Plainfield Twp. Supervisor in court on larceny charge

Posted at 3:31 PM, Feb 05, 2016
and last updated 2016-02-05 15:31:11-05

WYOMING, Mich. – The Plainfield Township Supervisor was arraigned Friday on one charge of Larceny by Conversion, over $20,000.

Jay Spencer was charged yesterday and he made his appearance in court today in Wyoming.  He was released after posting a deposit on a $5,000 bond.

According to court documents, a third party financial advisor got Spencer and another person together on a real estate investment tip.  The victim entered into a business agreement with Spencer to buy, rehabilitate and flip a house.  The victim invested $241,000 in the deal.

Investigators allege that the $241,000 was transferred between several Chase Bank accounts owned and operated by Spencer and his company.  Of the $241,000, investigators say that $180,000 was spent on non-business related items that was not in the investment plan.