Sports Park Executives Sentenced To Prison For Municipal Bond Fraud
summary
Former Legacy Park executives Randy Miller and Chad Miller were sentenced to six and five years in prison for a municipal bond fraud scheme that cost investors nearly $300 million.
paragraph
Randy Miller and Chad Miller were sentenced to six and five years in prison for securities fraud and aggravated identity theft. The scheme orchestrated by the former Legacy Park executives cost bondholders nearly $300 million. In addition to prison, they were ordered to pay money judgments of approximately $7.3 million and $4.8 million respectively.
narrative
Former Legacy Park executives Randy Miller and Chad Miller were sentenced to six and five years in prison for orchestrating a sophisticated municipal bond fraud scheme. The fraud, which involved securities fraud and aggravated identity theft, cost bondholders nearly $300 million. Both defendants had previously entered guilty pleas before U.S. District Judge Lewis A. Kaplan. Beyond their prison terms, they were sentenced to three years of supervised release and ordered to pay money judgments totaling over $12 million. The prosecution was led by the U.S. Attorney's Office for the Southern District of New York in coordination with the FBI. Additionally, the SEC resolved a parallel civil fraud action against the executives.
Classified market-manipulation(confidence 95%). EDGAR detection: forms SC 13D/G/13F· recall 53% / precision 9%. detection rule →
Statutes
Parties
aggravated identity theftchad millercourtney l. heaveyJay Claytonmatthew r. shahabianparallel civil actionrandy millerSecurities and Exchange Commissionsentenced defendants
Keywords
municipal bondfraudmunicipalbondbond fraudlinksports parkpark executivesexecutives prisonprison municipalgovernment non-governmentnon-government sitessites typicallytypically appearappear external
Extracted insights
Dollar amounts 4
- $4000.00B $4 trillion ≥$1B
- $300.00M $300 million $100M–$1B
- $7.29M $7,289,134 $1M–$10M
- $4.80M $4,798,980 $1M–$10M
Entities 10
- person aggravated identity theft
- person chad miller
- person courtney l. heavey
- person Jay Clayton
- person matthew r. shahabian
- person parallel civil action
- person randy miller
- agency Securities and Exchange Commission
- scheme_term securities fraud
- person sentenced defendants
Triples 16
- Jay Clayton Clayton Randy Miller
- Jay Clayton announced Chad Miller
- Randy Miller sentenced six years in prison
- Chad Miller sentenced five years in prison
- Randy Miller charged with securities fraud
- Chad Miller charged with securities fraud
- Randy Miller charged with aggravated identity theft
- Chad Miller charged with aggravated identity theft
- Lewis A. Kaplan verb sentenced defendants
- SEC resolved parallel civil action
- Randy Miller ordered to pay $7,289,134.89
- Chad Miller ordered to pay $4,798,980.19
- Randy Miller sentenced to three years of supervised release
- Chad Miller sentenced to three years of supervised release
- Courtney L. Heavey in charge of prosecution
- Matthew R. Shahabian in charge of prosecution
Extracted body text (2,650c)
Press Release Sports Park Executives Sentenced To Prison For Municipal Bond Fraud Wednesday, September 10, 2025 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York United States Attorney for the Southern District of New York, Jay Clayton, announced that RANDY MILLER and CHAD MILLER, former executives of the Legacy Park sports complex in Mesa, Arizona, were sentenced yesterday to six and five years in prison, respectively, for securities fraud and aggravated identity theft in connection with their scheme to defraud municipal bond investors. Both defendants previously pled guilty and were sentenced by U.S. District Judge Lewis A. Kaplan. “The significant sentences imposed for this municipal bond fraud, along with the parallel civil fraud action by the SEC, reflect the commitment of our Office, the FBI, and the SEC to hold accountable those who exploit the trust of investors,” said U.S. Attorney Jay Clayton. “Randy and Chad Miller orchestrated a sophisticated scheme that cost bondholders nearly $300 million. Their scheme undermined confidence in the $4 trillion+ municipal bond market that communities across America depend on to finance essential projects. We will continue to fight for the integrity and efficiency of the municipal bond market.”* * *In addition to their prison terms, RANDY MILLER, 70, and CHAD MILLER, 41, were sentenced to three years of supervised release and ordered to pay money judgments in the amounts of $7,289,134.89 and $4,798,980.19.Mr. Clayton praised the outstanding work of the FBI and thanked the U.S. Securities and Exchange Commission, which resolved a parallel civil action. The case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Courtney L. Heavey and Matthew R. Shahabian are in charge of the prosecution. Contact Nicholas Biase, Shelby Wratchford(212) 637-2600 Updated September 10, 2025 Topic Securities, Commodities, & Investment Fraud Component USAO - New York, Southern Press Release Number: 25-207
OCR text (2,650c · html-text · 99% conf)
Press Release Sports Park Executives Sentenced To Prison For Municipal Bond Fraud Wednesday, September 10, 2025 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York United States Attorney for the Southern District of New York, Jay Clayton, announced that RANDY MILLER and CHAD MILLER, former executives of the Legacy Park sports complex in Mesa, Arizona, were sentenced yesterday to six and five years in prison, respectively, for securities fraud and aggravated identity theft in connection with their scheme to defraud municipal bond investors. Both defendants previously pled guilty and were sentenced by U.S. District Judge Lewis A. Kaplan. “The significant sentences imposed for this municipal bond fraud, along with the parallel civil fraud action by the SEC, reflect the commitment of our Office, the FBI, and the SEC to hold accountable those who exploit the trust of investors,” said U.S. Attorney Jay Clayton. “Randy and Chad Miller orchestrated a sophisticated scheme that cost bondholders nearly $300 million. Their scheme undermined confidence in the $4 trillion+ municipal bond market that communities across America depend on to finance essential projects. We will continue to fight for the integrity and efficiency of the municipal bond market.”* * *In addition to their prison terms, RANDY MILLER, 70, and CHAD MILLER, 41, were sentenced to three years of supervised release and ordered to pay money judgments in the amounts of $7,289,134.89 and $4,798,980.19.Mr. Clayton praised the outstanding work of the FBI and thanked the U.S. Securities and Exchange Commission, which resolved a parallel civil action. The case is being handled by the Office’s Securities and Commodities Fraud Task Force. Assistant U.S. Attorneys Courtney L. Heavey and Matthew R. Shahabian are in charge of the prosecution. Contact Nicholas Biase, Shelby Wratchford(212) 637-2600 Updated September 10, 2025 Topic Securities, Commodities, & Investment Fraud Component USAO - New York, Southern Press Release Number: 25-207