Everett C. Miller, Securities Fraud, New Jersey 2014

Everett C. Miller Sentenced to 10 Years in Prison for Multimillion-Dollar Securities Fraud

CAMDEN, N.J. – The president of Carr Miller Capital LLC, Everett C. Miller, 45, of Marlton, New Jersey, was sentenced to 120 months in prison for evading taxes and defrauding dozens of investors in New Jersey, Pennsylvania, Texas, and elsewhere of $5 million.

Miller, the founder, chief executive officer, president, principal, and sole owner of Carr Miller Capital LLC, pleaded guilty before U.S. District Judge Renee Marie Bumb to one count of securities fraud and one count of tax evasion.

According to documents filed in this case and statements made in court, Miller and others solicited investments through the firm from individuals located in New Jersey, Pennsylvania, North Carolina, Arkansas, Texas, and elsewhere.

Miller admitted that from June 2006 through December 2010, he and others issued promissory notes to more than 190 investors across the United States, and Miller and CMC received $41.2 million from these investors.

The notes were provided as ‘securities,’ but Miller and CMC never registered the notes as securities with any federal or state agency, nor were the notes exempt from such registration requirements.

Miller and others falsely represented to the investors that their money would be invested in certain ways, but the investors were not provided with material information about their investments or were misled about the risks of their investments.

Miller’s sentence of 120 months in prison reflects the seriousness of his crimes, which resulted in significant financial losses for numerous investors.

Miller is also required to forfeit $4,900,000.

The case was investigated by the Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation.

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