BAY CITY, MI – A Bad Axe man has pleaded guilty to defrauding multiple financial institutions in a scheme involving fraudulent loans and an alleged kidnapping.

Four-time World Series of Poker Circuit Ring winner George P. Janssen Jr., 42, went before U.S. District Court Magistrate Judge Patricia T. Morris on Wednesday, Aug. 19, to enter a plea agreement in the case.

Janssen took out millions of dollars in fraudulent vehicle loans through his car dealership, Bay Auto Brokers, in Bay City.

Per the plea agreement, Janssen is pleading guilty to one count of financial institutional fraud and is waiving his right to a trial by jury.

The agreement also states no additional charges will be brought against him in the case.

Financial institutional fraud carries a maximum sentence of 30 years in

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