MESA, AZ (AZFamily) — An Arizona father and son have been indicted after prosecutors allege they defrauded investors out of more than $280 million by selling fake municipal bonds to fund the development of Legacy Park, a major sports complex in Mesa.
According to federal authorities, Randy Miller and Chad Miller lied to potential bond investigators about sports organizations and customers’ interest in using or relocating to Legacy Park. The Millers reportedly forged and altered “binding” letters of intent to make it seem like the venue hosted a large number of spectators who would pay hefty fees.
Prosecutors say that sometimes the father-son duo signed and directed others to sign customers’ names without permission and then copied signatures onto fabricated letters. The victims included several people and well-known organizations, including a group that promotes sports for disabled athletes, investigators said…