INDIANAPOLIS, Ind. (WPTA) – A former Middlebury man has been convicted of multiple felony charges after officials say he scammed at least 70 people out of money in an investment scheme.
The Indiana Secretary of State’s office announced on Friday that Earl D. Miller was convicted after documents say he, through his companies 5 Star Commercial and 5 Star Capital, committed fraud in the offer and sale of securities by convincing investors to invest in real estate and green savings projects. They say Miller solicited at least $4.3 million from at least 70 people.
Officials say Miller was using those investments for his own personal use and to purchase other risky investments. Miller was convicted on six felony counts including securities fraud and wire fraud in connection with the scheme. They say Hoosier victims in the case are eligible for payment from the Secretary of State’s restitution fund.
The office says Indiana’s Securities Restitution Fund was established in 2010 to enable the Secretary of State, Securities Division to award restitution to victims of securities law violations. Victims are eligible to receive 25% of their unpaid restitution, up to a maximum of $15,000.
Miller is set to be sentenced on August 25.
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