HAMILTON, N.Y. (WSYR-TV) — The Madison County tax preparer and insurance agent under state and federal investigation for allegations he operated a Ponzi scheme has been arrested and indicted on 49 criminal counts.
The New York State Attorney General announced the unsealing of the indictment, which accuses Miles Burton Marshall of stealing more than $50 million from 988 investors over 30 years.
Marshall is accused of taking money from clients under the guise of an investment, promising a generous 8% return, but instead using funds to pay returns to prior investors, pay personal expenses, and expenses of his other businesses…