Carr Miller Capital Ponzi Scheme Legal News Articles & Interviews

Philadelphia, PA (press release) $54 million pales in comparison to the billions swindled by Bernard Madoff’s Ponzi scheme, but there is no difference to the hundreds of victims--many of them elderly--of the alleged financial fraud led in part by once high-flying Mantria Corp., a former Bala Cynwyd company, according to a Complaint filed by Philadelphia-based Saltz Mongeluzzi Barrett & Bendesky (“SMBB”).

Marlton, NJ Investors who lost money in the alleged Carr Miller Capital Ponzi Scheme may worry that there will be no money left over for them to recover their losses. After all, the defendants, Everett Charles Ford Miller, Ryan J. Carr, Brian P. Carr, reportedly spent $13 million on personal purchases. Christopher J. Gray, attorney with the Law Office of Christopher J. Gray, P.C. in New York City, says there may be more than one way for investors to recover money lost in the alleged Ponzi scheme.

New Canaan, CT A hedge fund executive in Connecticut recently pleaded guilty to fraud counts and other charges for his role in a significant Ponzi scheme, The Associated Press reports.

Newark, NJ Investors who learned their money was put in the alleged Carr Miller Capital Ponzi Scheme now face the difficult task of determining what action to take to recover money lost to the alleged Ponzi scheme. Concern about what to do about money lost to securities fraud can take a backseat to concerns about what to do in the immediate future, with money that was supposedly invested short term suddenly disappearing.

Newark, NJ A man at the center of an alleged Ponzi scheme recently resigned from his role as a director, as well as the chief operating officer (COO) of Indigo-Energy, an enterprise that acquires, develops, produces and drills oil and gas reserves throughout the US. The resignations come in the wake of a lawsuit filed against Carr Miller Capital Investments by the Attorney General's Office for the State of New Jersey, alleging the Carr Miller Capital Ponzi Scheme.

Newark, NJ For people who lost money in the alleged Carr Miller Capital Ponzi Scheme, the issue is not only that they lost money but that they lost a lot of money. Investigators into the Ponzi scheme—a form of securities fraud—say that the money was used in investments the investors did not authorize and used to make personal purchases on behalf of the principals in Carr Miller Capital, which might be the most heartbreaking part of the Ponzi scheme. After all, investors know they might lose their money in an investment; they just do not expect that money will purchase luxury items for the financial advisors who sold them the investment.

Portland, ME A man from Scarborough, Maine, is facing a trial in the state on charges of securities fraud after he allegedly scammed a New York church out of $400,000, The Associated Press reports.

Newark, NJ People with their money invested in the Carr Miller Capital Ponzi scheme might be wondering what they can do to get their money back. Often in a Ponzi scheme it can be difficult to recover losses—sometimes the money has gone to pay back previous investors and, in other cases, the money has gone right into the perpetrator's pocket. When it comes to securities fraud, getting the money back can be difficult.

Marlton, NJ Any individual who may have lost wealth in the Carr Miller Capital Ponzi Scheme would be displeased to know that while the investor was busy making an honest living and expecting modest returns from his investment, the accused co-conspirators were allegedly enjoying themselves at a luxury skybox at the Prudential Center in Newark, New Jersey—amongst other luxuries. One of the accused drove a new Mercedes, while investors were making do with Toyotas.

Las Vegas, NV In addition to the investors who lost money in the alleged Carr Miller Capital Ponzi Scheme, there may be more fallout from New Jersey's actions against Carr Miller Capital. Charges have been filed against nominal defendants who may not have known about the alleged Ponzi scheme, but are still implicated because of their association with Carr Miller Capital.