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Former CEO Sentenced to 10 Years in Prison for Securities Fraud
Everett C. Miller, 45, of Marlton, New Jersey, was sentenced to 10 years in prison for his role in a multimillion-dollar securities fraud scheme that defrauded dozens of investors in New Jersey, Pennsylvania, Texas, and elsewhere.
Miller, the president of Carr Miller Capital LLC, was found guilty of one count of securities fraud and one count of tax evasion. He was sentenced on [date] in Camden federal court.
According to court documents, Miller and his associates solicited investments from individuals across the United States, promising returns of seven to 20 percent per year. However, Miller and his firm never registered the notes as securities with any federal or state agency, and he used the money to repay prior investors, pay payrolls and operating expenses, and support his lifestyle.
Miller’s scheme resulted in over $5 million in losses for investors, and he failed to report $663,156 in taxable income to the IRS, resulting in a tax loss of $47,342.
The Arkansas Securities Department initiated an investigation into Miller and his firm in August 2009, but he continued to sell unregistered securities to investors despite the investigation.
Miller’s sentence is a significant blow to his victims, who lost millions of dollars in the scheme. The case serves as a reminder of the importance of due diligence and registration requirements for securities offerings.
Mandatory Facts: Defendant: Everett C. Miller, Crime: Securities Fraud and Tax Evasion, City and State: Marlton, New Jersey, Exact Date: [date], Sentence: 10 years in prison, Dollar Amounts: $5 million in losses, $663,156 in unreported taxable income.
Key Facts
- State: New Jersey
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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