Upstate New York man pleads guilty to stealing more than $50M in Ponzi scheme
An upstate New York businessman, Miles “Burt” Marshall, pleaded guilty to running a Ponzi scheme that defrauded hundreds of investors of over $50 million. He faces four to 12 years in prison after admitting to charges including grand larceny and securities fraud. Marshall, a longtime tax preparer and insurance seller, used new investor funds to pay returns to earlier investors and spent money on personal luxuries. He is scheduled to be sentenced on June 11 in Madison County Court.
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ABC NewsLiveVideoShowsGood Morning AmericaShopGMAInterest Successfully AddedWe'll notify you here with news aboutTurn on desktop notifications for breaking stories about interest? OffOnStream onUpstate New York man pleads guilty to stealing more than $50M in Ponzi schemeAn upstate New York businessman accused of stealing over $50 million from hundreds of people has pleaded guilty to charges related to a Ponzi schemeByMICHAEL HILL Associated PressApril 28, 2026, 6:04 PM1:52FILE - The main intersection of Hamilton, N.Y., July 18, 2025.
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