Recently, a former securities broker and financial adviser, Brian Keith Miller, was indicted on federal charges in connection with an alleged Ponzi scheme.
The allegations state that from April 2007 through March 2010 Brian Miller allegedly “defraud[ed]numerous individuals by soliciting investments under false pretenses.” The charges allege that Miller repeatedly kept a portion of investors’ money for personal spending while using some of it to pay other investors. Paying other investors allowed Miller to convince them they were continually a return on their investments.
Miller filed for bankruptcy in July 2010, listing more than $1.2 million in unsecured debts, the majority of which he described as “personal loans”. His creditors began filing claims as well, listing the same transactions as “investment fraud” or “investment scam”.
Throughout 2005, Miller was employed by the investment branch of SunTrust Banks, Inc. While employed by SunTrust Banks, Inc. Miller was linked by FINRA (Financial Industry Regulatory Authority)document to sales of unregistered stock in a venture known as IdleAire.
If you are an investor who has suffered substantial losses investing in structured products or reverseconvertibles through Brian Keith Miller, your losses may be recoverable through securities arbitration. Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 to discuss your recovery options.