DOJ: Goshen Man Charged In Investment Fraud Scheme, Targeted Amish
The Dept. of Justice out of South Bend issued a release regarding charges against a Goshen man accused of an investment fraud scheme that started in 2012.
(You can read more from the DOJ release below.)
Earl D. Miller, 40, of Goshen, Indiana was charged by way of an Indictment with 6 counts of wire fraud, 1 count of securities fraud, and 1 count of bankruptcy fraud, announced U.S. Attorney Kirsch.
According to documents in this case, it is alleged that Miller, a former real estate investor, began raising money for a new private investment firm named “5 Star Capital” in 2012. He began recruiting predominately novice investors, including members of the Amish community, for “investment opportunities” with 5 Star Capital, 5 Star Commercial and other real estate entities. Miller allegedly solicited funds to invest in “green energy saving product that save the American consumer hundreds of dollars each year.” It is alleged that from June 2014 to August 2015, Mr. Miller raised at least $4.3 million from at least 70 investors through lies. He falsely told investors that he would not get paid anything for managing their funds when, in truth, he misappropriated over $1 million dollars from 5 Star Commercial investors for his personal use including to pay off a former business partner. Mr. Miller also did not own “green product” patents and performed virtually no due diligence into the purported “green” companies before placing his investors’ assets. In addition, to the wire fraud, Mr. Miller is charged securities fraud and bankruptcy fraud for omissions made during bankruptcy proceedings.