Financial Fraud: Randy Miland Sentenced For Various Financial Fraud Schemes

<h2>Serial Fraudster Sentenced To 90 Months In Prison For Investment Scam And Money Laundering<&sol;h2>&NewLine;<p>Acting United States Attorney Gregory G&period; Brooker announced the sentencing of RANDY MILAND&comma; 63&comma; to 90 months in federal prison for operating a Ponzi scheme through which he stole or attempted to steal more than &dollar;500&comma;000 from purported investors&period; MILAND was indicted on June 7&comma; 2016&comma; and pleaded guilty on September 9&comma; 2016&period; MILAND was sentenced on June 6&comma; 2017&comma; before United States District Judge Wilhelmina M&period; Wright in U&period;S&period; District Court in St&period; Paul&comma; Minn&period;<&sol;p>&NewLine;<div class&equals;"mh-content-ad"><script async src&equals;"https&colon;&sol;&sol;pagead2&period;googlesyndication&period;com&sol;pagead&sol;js&sol;adsbygoogle&period;js&quest;client&equals;ca-pub-9162800720558968"&NewLine; crossorigin&equals;"anonymous"><&sol;script>&NewLine;<ins class&equals;"adsbygoogle"&NewLine; style&equals;"display&colon;block&semi; text-align&colon;center&semi;"&NewLine; data-ad-layout&equals;"in-article"&NewLine; data-ad-format&equals;"fluid"&NewLine; data-ad-client&equals;"ca-pub-9162800720558968"&NewLine; data-ad-slot&equals;"1081854981"><&sol;ins>&NewLine;<script>&NewLine; &lpar;adsbygoogle &equals; window&period;adsbygoogle &vert;&vert; &lbrack;&rsqb;&rpar;&period;push&lpar;&lbrace;&rcub;&rpar;&semi;&NewLine;<&sol;script><&sol;div>&NewLine;<p>&OpenCurlyDoubleQuote;Randy Miland is a serial scam artist whose trail of swindles has now led him straight to a lengthy prison sentence&comma;” said Minnesota Commerce Commissioner Mike Rothman&comma; whose agency regulates investment securities at the state level&period; &OpenCurlyDoubleQuote;Over and over again&comma; he stole people’s life savings with his fraudulent schemes&period; By stopping these scams&comma; we are protecting Minnesotans in the <a class&equals;"wpil&lowbar;keyword&lowbar;link" href&equals;"https&colon;&sol;&sol;www&period;fraudswatch&period;com&sol;tag&sol;financial-fraud&sol;amp&sol;" title&equals;"financial" data-wpil-keyword-link&equals;"linked" data-wpil-monitor-id&equals;"769">financial<&sol;a> marketplace&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;IRS Criminal Investigation remains committed to uncovering investment fraud schemes and bringing to justice those who prey on investors for their personal financial gain&comma;” said Special Agent in Charge Shea Jones of St&period; Paul Field Office IRS Criminal Investigation&period; &OpenCurlyDoubleQuote;Today’s 90 month sentencing of Randy Miland shows that committing investment fraud will result in severe consequences&period;”<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Randy Miland is a conman and serial fraudster who lied to and stole hundreds of thousands of dollars from his friends and chiropractic patients&comma;” said Assistant United States Attorney Joseph H&period; Thompson&period; &OpenCurlyDoubleQuote;Thanks to the collaborative work of the Minnesota Department of Commerce and Criminal Investigation Division of the IRS&comma; Mr&period; Miland will now pay for his many years of criminal conduct&period;”<&sol;p>&NewLine;<p>According to the defendant’s guilty plea and documents filed in court&comma; MILAND&comma; who was a licensed chiropractor in the state of Minnesota&comma; had prior convictions in state and federal court for various financial fraud schemes&period; In 1999&comma; MILAND was convicted in state court of theft by swindle&comma; sentenced to 55 months in prison&comma; and ordered to pay more than &dollar;1&period;5 million in restitution to the victims&period; As of May 2016&comma; MILAND still owed those victims nearly the entire amount of restitution ordered&period; In 2006&comma; MILAND was convicted in federal court of fraud&comma; sentenced to 41 months in prison&comma; and ordered to pay more than &dollar;250&comma;000 in restitution to the victims&period; MILAND currently still owes approximately &dollar;124&comma;000 in restitution to the victims of his 2006 federal case&period;<&sol;p>&NewLine;<p>According to the defendant’s guilty plea and documents filed in court&comma; from 2010 through 2014&comma; MILAND fraudulently solicited more than &dollar;500&comma;000 from ten investors&comma; telling them that he would use their money to invest in futures and other legitimate investments&period; In reality&comma; he used their money to pay personal expenses&comma; including court-ordered restitution payments to victims of his prior scams&comma; and to make Ponzi-type payments of purported investment returns to other investors&period;<&sol;p>&NewLine;<p>MILAND concealed material facts from his new victims&comma; including the fact that he had been twice convicted of fraudulent conduct&comma; that the Minnesota Board of Chiropractic Examiners suspended his license&comma; that he was forbidden by the Minnesota Department of Commerce from offering or selling securities&comma; and that he still owed more than &dollar;1&period;5 million in restitution to victims of prior schemes&period;<&sol;p>&NewLine;<p><span lang&equals;"EN">The case is being prosecuted by Assistant United States Attorney Joseph H&period; Thompson&period; <&sol;span><&sol;p>&NewLine;<p>This case is the result of an investigation conducted by the Criminal Investigation Division of the IRS and the Minnesota Department of Commerce Fraud Bureau&period;<&sol;p>&NewLine;<p>Defendant Information&colon;<&sol;p>&NewLine;<p>RANDY MILAND&comma; 63<&sol;p>&NewLine;<p>White Bear Lake&comma; Minn&period;<&sol;p>&NewLine;<p>Convicted&colon;<&sol;p>&NewLine;<ul>&NewLine;<li>Mail fraud&comma; 1 count<&sol;li>&NewLine;<li>Money laundering&comma; 1 count<&sol;li>&NewLine;<&sol;ul>&NewLine;<p>Sentenced&colon;<&sol;p>&NewLine;<ul>&NewLine;<li>90 months in prison<&sol;li>&NewLine;<li>&dollar;214&comma;517 in restitution<&sol;li>&NewLine;<li>Three years of supervised release<&sol;li>&NewLine;<&sol;ul>&NewLine;<p><a href&equals;"https&colon;&sol;&sol;www&period;justice&period;gov&sol;usao-mn&sol;pr&sol;serial-fraudster-sentenced-90-months-prison-investment-scam-and-money-laundering">Original PressReleases&&num;8230&semi;<&sol;a><&sol;p>&NewLine;

Financial Fraud