Investment adviser charged with stealing client funds
A Pennsylvania investment adviser was charged with stealing millions of dollars from clients after she orchestrated a lengthy investment fraud scheme, according to court documents from the U.S. District Court of Massachusetts.
Patricia S. Miller, 67, of South Park, was charged with five counts of wire fraud after investigators found she stole $2.5 million from more than 20 clients between 2002 and May, court records show. Miller was affiliated with the Massachusetts-based broker dealer Investors Capital Corp. and previously the Pennsylvania-based Janney Montgomery Scott. She promised high returns if clients put their money into investment clubs, but instead pocketed the funds for her own use, investigators said.
Area residents could have fallen victim. Anyone who suspects they are a victim is instructed to call the U.S. Attorney’s Office Western District of Pennsylvania’s victim witness unit at 412-644-3500. Additional information can be found at http://www.justice.gov/usao/paw/.