Corporate & Securities Law

The attorneys at Eccleston Law have launched an investigation of New Jersey based investment advisory firm Carr Miller Capital for allegedly operating a $40 million Ponzi scheme. Also under investigation are Everett Charles Ford Miller, Ryan J. Carr, and Brian P. Carr, who are believed to have orchestrated the fraud.

Carr Miller Capital sold nine-month notes that purportedly offered rates of return ranging between 10% and 15% annually. Investors were told that they could redeem these notes at the end of the term or could continue to renew their notes for additional nine-month terms.

However, in typical Ponzi-scheme fashion, it is believed that over $8 million of monies received from new investors were sent to earlier investors as interest payments.  Approximately $14 million of investor funds were used to support the extravagant lifestyle of the managers of Carr Capital, which included luxury vacations, automobiles, and to purchase a New Jersey Devils sky box at the Prudential Center in Newark, New Jersey. The remaining $16 million was invested in various hedge funds and other speculative investments not authorized by or disclosed to investors, such as film production companies and oil and gas drilling deals.

Eccleston Law represents individual and institutional investors to recover their investment losses caused by securities and investment fraud through litigation and arbitration. Our attorneys also help victims of Ponzi schemes pursue recovery by submitting claims with receiverships established by the SEC or by assisting victims with the filing of a Theft Loss Tax Deduction with the IRS.

If you have lost money investing with Car Miller Capital or have information about this Ponzi scheme, please contact Jim Eccleston at 312-332-0000.