Head of New Jersey investment firms gets 10 years for fraud
CAMDEN, N.J. -- The head of a southern New Jersey investment firm has been sentenced to 10 years in prison after admitting to fleecing investors of millions of dollars.
The U.S. attorney's office said Thursday Everett Miller also must forfeit $4.9 million he earned from the scam and pay more than $22 million in restitution.
The 45-year-old Marlton resident pleaded guilty to one count each of securities fraud and tax evasion.
Prosecutors say Miller ran Carr Miller Capital in Marlton and raised $42 million from investors in New Jersey, Pennsylvania, North Carolina, Arkansas, Texas and elsewhere. They were promised returns of 7 to 20 percent per year and a return of their principal investment within nine months.
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