Meyer Wilson Law Firm Contacted by Victims of Alleged Ponzi Scheme Run by Former Pennsylvania Stockbroker Patricia S. Miller
Attorneys investigating case believe investors may be able to recover losses.
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.