Pennsylvania Broker Arrested for Ponzi Scheme
Patricia S. Miller, 67, a Pennsylvania registered broker, recently was arrested for orchestrating a massive Ponzi scheme.
Miller allegedly stole money from clients to invest in “investment clubs” called, among other things, “KS investment” and “Buckharbor”, with a promise of high return through a Massachusetts-based broker dealer, Investors Capital Corporation.
Miller representedthat funds put into her investment clubs would be placed in fixed-income notes and other investments. Instead of investing money as promised, Miller misappropriated client funds for her own personal use.
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