Consumers Affected
988
New York Attorney General Letitia James announced the conviction of tax preparer and insurance agent Miles Burton Marshall for operating a decades-long Ponzi scheme that defrauded 988 investors out of more than $50 million. Marshall pleaded guilty to Grand Larceny in the Second Degree, Securities Fraud under the Martin Act, and Scheme to Defraud in the First Degree, and faces four to 12 years in prison plus approximately $90 million in restitution to victims.
Marshall will be sentenced to four to 12 years in state prison and must enter judgments in favor of 988 victims totaling approximately $90 million in principal and interest restitution.
This enforcement action involves criminal securities fraud and Ponzi scheme charges, not privacy violations, so there are no privacy-related contract clauses (e.g., data processing, breach notification, consent) to review in vendor, customer, or employee agreements as a result of this action.
Entity
Miles Burton Marshall
Industry
Financial Services"Miles Burton Marshall"
"Martin Act"
"Grand Larceny in the Second Degree"
"Scheme to Defraud in the First Degree"
"operating a massive Ponzi scheme that fraudulently stole more than $50 million from 988 investors"
"988 investors"
$3.3M
New York Attorney General James announced the delivery of eggs to food banks as part of a multistate settlement with Cal-Maine Foods, Versova/Centrum, and Hickman's Egg Ranch for price fixing. The companies illegally coordinated to manipulate the Urner Barry egg price index, artificially inflating prices. They will deliver 53 million eggs to food banks and pay $3.3 million.
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