Attorneys investigating case believe investors may be able to recover losses.
The securities lawyers at Meyer Wilson have been contacted by victims of
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 experience
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.