Investment Fraud Law Firm Meyer Wilson Uncovers Significant Details About Patricia Miller's Alleged Ponzi Scheme

Meyer Wilson’s Investigation Uncovers Significant Details Regarding Pat Miller’s Alleged Ponzi Scheme, as TV Report Airs on Pittsburgh’s Action News 4

Important details are emerging about how former Pennsylvania stockbroker Patricia S. Miller perpetuated her alleged Ponzi scheme and the steps she took to mislead investors.

An investigative report on the Ponzi scheme aired on Pittsburgh’s Action News 4 (WTAE TV) on June 9th. The victim interviewed for the story by Action News 4 has hired the investment fraud lawyers at Meyer Wilson to help recover her lost investments. Meyer Wilson has teamed up with the local Pittsburgh law firm of Rosen, Louik & Perry.

Back on May 29th, we explained that our investigation into the investments sold by former stockbroker Patricia S. Miller found evidence of a classic Ponzi Scheme.

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While the full scope of investors’ losses are not yet known, it now appears certain that Miller never made any legitimate investments with the money that she obtained from her clients. Instead, Miller misappropriated the money entrusted to her for her own improper use.

According to the criminal complaint announced by the US Attorney’s office, representatives from Miller’s supervising brokerage firm, Investors Capital Corporation (ICC), arrived at Miller’s McMurray, Pennsylvania, offices on May 19, 2014, to interview her regarding a recent customer complaint. Before entering the office, the ICC representatives searched a garbage dumpster adjacent to Miller’s building. In the dumpster they found two white garbage bags containing documents from Miller’s business, including what appeared to be fake account statements.

The criminal complaint alleges that during an examination, Miller admitted to the ICC representatives that she had previously lied to ICC and improperly taken money from customers.

While at Miller’s offices, the ICC representatives reviewed paper files, electronic files saved on Miller’s desktop computer, and online bank statements. Among the items discovered during this examination include:

* Blank ICC account statements. When asked about them, Miller said that she hired someone associated with a technical school to create the account statements, which were apparently used by Miller as a template for the fake account statements she generated for her customers.

* Fake Huntington National Bank statements. These documents, which were created by literally cutting and pasting paper together, were found in a credenza in Miller’s office and purport to show a bank account in the name of Miller and her husband with a balance of $2 million.

* Purported K-1 statements relating to KS Investments, one of the alleged Ponzi scheme entities. While Miller might have provided K-1s to her clients, she admitted that she never submitted K-1s to the IRS.

Miller was terminated from ICC on May 21.

On May 29, criminal charges against Miller were filed in federal court in Massachusetts, which is where ICC is headquartered. The complaint asserts one count of wire fraud. If convicted, Miller faces a maximum sentence under the statute of 20 years in prison and a $250,000 fine.

Miller was arrested and taken into custody on June 6.

We are conducting an Informational Meeting in Pittsburgh on Thursday, June 12. To schedule your meeting with our investment fraud attorneys in Pittsburgh, call Meyer Wilson toll-free at either 1-888-390-6491. You may also call our co-counsel, the Pittsburgh law firm of Rosen, Louik and Perry, at (412) 281-4200.

All of the firm's cases are handled on a contingency fee and no retainer is requested. The seven attorneys at Meyer Wilson have handled nearly 1,000 investment fraud case over the past 15 years.

Informational Meeting With Investment Fraud Attorneys in Pittsburgh on Thursday, June 12

Informational Meeting with Investment Fraud Attorneys in Pittsburgh on Thursday, June 12

As Pat Miller was arrested on June 6 on charges that she orchestrated a massive Ponzi scheme, additional victims of her scheme have hired the investment fraud attorneys at Meyer Wilson, along with the Pittsburgh law firm of Rosen, Louik and Perry, to pursue claims to recover their lost investments.

More former clients of Patricia Miller have contacted our firms and have asked to meet with us in person in Pittsburgh to discuss joining the group of clients we are currently representing. We are currently scheduling meetings with potential clients this Thursday, June 12^th in downtown Pittsburgh to explain the legal process to recover investments lost in this Ponzi scheme and to answer questions. Please contact the Attorney David Meyer or Chad Kohler to schedule your meeting in Pittsburgh by calling 1-888-390-6491. There is no cost to meet with the lawyers and if you wish to join the group of clients we are currently representing, we work solely on a contingency fee and there is no retainer required. In addition, the costs and expenses incurred in the case are only repaid if we recover losses for you.

To schedule your meeting with our investment fraud attorneys in Pittsburgh on Thursday, June 12, call Meyer Wilson toll-free at either 1-888-390-6491. You may also call our co-counsel, the Pittsburgh law firm of Rosen, Louik and Perry, at (412) 281-4200.

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Meyer Wilson Teams Up With Pittsburgh Law Firm of Rosen Louik & Perry, P.C. To Represent Victims of the Alleged Ponzi Scheme Involving Broker Patricia Miller

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Clients of broker Patricia S. Miller, formerly with Investors Capital Corp., have hired the investment fraud Meyer Wilson to help recover investments likely lost in the alleged Ponzi Scheme orchestrated by Patricia S. Miller. Meyer Wilson has teamed up with Pittsburgh law firm of Rosen Louik & Perry, P.C. to jointly represent the clients.

If you were a client of former stockbroker Pat Miller and have questions about your legal rights, call attorney David Meyer toll-free at (888) 390-6491 for a complimentary case evaluation and for additional details about the ongoing investigation. You may also contact his co-counsel, Pittsburgh attorney Jon R. Perry with the law firm of Rosen Louik & Perry, P.C. at 412-281-4200.

Meyer Wilson Law Firm Contacted by Victims of Alleged Ponzi Scheme Run by Former Pennsylvania Stockbroker Patricia S. Miller

Attorneys investigating case believe investors may be able to recover losses.

The securities lawyers at Meyer Wilson have been contacted by victims of an alleged Ponzi scheme run by former stockbroker Patricia S. Miller of McMurray, Pennsylvania.

Based on documents provided to the Meyer Wilson, it appears that Miller convinced customers that they were safely invested in mix of securities including high-grade corporate and municipal bonds. In reality, however, it appears that these investments may have been nothing more than a sham.

The law firm has been told that the FBI is currently conducting an investigation into the business dealings of Patricia Miller.

Documents provided to Meyer Wilson show that Miller may have orchestrated the alleged Ponzi scheme through various entities, including KS Investments, KS Investment Partnership, K Squared Development, K Squared Investments, Buck Harbor Investments, Buck Harbor Investment Club, and Buck Harbor Investment Partnership. The documents also suggest that phony statements may have been sent to customers.

"At this point in our investigation, it appears that much of Miller's alleged fraud may have occurred while she was affiliated with a brokerage firm, which had a duty under the securities laws to supervise Miller's business activities," says attorney David P. Meyer, managing principal of the Meyer Wilson. Meyer says that victims who lost money in Miller's alleged Ponzi scheme may be able to recover all or a portion of their losses against any brokerage firm that failed to adequately supervise Miller.

Miller was employed by the brokerage firm of Investors Capital Corporation until May 21, 2014, when her employment abruptly ended apparently only two days after the brokerage firm received a complaint from a customer. Miller was employed by the brokerage firm of Janney Montgomery Scott, LLC, from March 1996 to July 2010.

Investors who lost money in Miller's alleged Ponzi scheme may be able to file arbitration claims with the Financial Industry Regulatory Authority (FINRA) against the brokerage firms that employed Miller. FINRA regulates brokerage firms and oversees the arbitration process through which most customer disputes are decided.

Please understand that Meyer Wilson's investigation is ongoing and there remains a lot of information and details that require additional review and analysis. It is too early to tell what investments may be legitimate and what aren't. It is important that victims speak to an experienced investment fraud attorney before the victims speak to the brokerage firm's compliance or legal departments.

The team of investment fraud attorneys at Meyer Wilson has successfully represented nearly 1,000 individual investors from across the country who have suffered financial harm at the hands of stockbrokers and brokerage firms. They have won verdicts, arbitration awards, and settlements of hundreds of millions of dollars for their clients.

Investors who lost money as a result of alleged misconduct by former stockbroker Patricia Miller are encouraged to contact attorney David Meyer toll-free at 888-390-6491 for no-cost evaluation of their situation.