According to reports, Brian Keith Miller, a former securities broker and financial adviser, has been indicted on federal charges in connection with an alleged Ponzi scheme.

A federal indictment alleges that from April 2007 through March 2010 Miller conducted a “scheme to defraud numerous individuals by soliciting investments under false pretenses.”

According to the U.S. attorney’s office, Miller kept some of the investors’ money for himself and used some of it to pay other investors “to lull them into believing that they were receiving payments on their investments.”

In July 2010, Miller filed a petition for bankruptcy, listing liabilities that included more than $1.2 million in unsecured debts, many of which he described as “personal loans.” But when his creditors began filing claims, many of them used terms such as “investment fraud” or “investment scam” to describe the same transactions.

In 2005, while employed by the investment branch of SunTrust Banks Inc., Miller was linked by a Financial Industry Regulatory Authority document to sales of unregistered stock in the Knoxville-based IdleAire venture.

The White Law Group is investigating what liability the FINRA broker-dealers that employed Miller may have for his actions.  Even if a financial advisor is conducting business without the knowledge of his brokerage firm, the firm may still be liable for negligent supervision of their broker representative and may be responsible for investment losses in a FINRA arbitration claim.

If you have suffered losses due to your investing with Miller and would like to speak to a securities attorney about your potential to recover those investment losses, please call The White Law Group’s Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, please visit our website at http://whitesecuritieslaw.com.