Carr Miller Capital LLC
The New Jersey Office of the Attorney General and the Bureau of Securities filed a lawsuit against Carr Miller Capital LLC and its three principals. Carr Miller is accused of operating a Ponzi scheme and other means to defraud investors of over $40 million. The lawsuit filed in State Superior Court in Newark alleges that the defendants violated numerous state Uniform Securities Laws by committing fraud and selling unregistered securities. According to the lawsuit, in or about 2007, Carr Miller Capital LLC and/or Capital Markets Advisory LLC through the defendants sold and continued to sell securities in the form of promissory notes. The document states that the Carr Miller notes had a term of nine months and promised returns of between 10 percent and 15 percent per year and return of the principal investment at the end of the nine-month period. An investigation by the Bureau of Securities revealed that Carr Miller investors’ funds were used to pay for the defendant’s personal purchases. Investors who sustained losses in promissory notes issued by Carr Miller LLC should contact Blum Law Group for a free consultation.