Serial Con Artist Sent to Federal Prison
St. Paul, MN (KROC-AM News) - A suburban Twin Cities man has been sentenced to 90 months in federal prison for running a Ponzi scheme.
Federal prosecutors in Minnesota say 63-year-old Randy Miland of White Bear Lake was indicted last summer and pled guilty in September to mail fraud and money laundering charges. Officials describe him as a serial scam artist, noting his criminal history includes a theft by swindle conviction in 1999 and a federal fraud conviction in 2006. Court records show he still owes over $1.6 million in restitution to the victims of those previous cases.
“Randy Miland is a conman and serial fraudster who lied to and stole hundreds of thousands of dollars from his friends and chiropractic patients,” said Assistant United States Attorney Joseph H. Thompson. “Thanks to the collaborative work of the Minnesota Department of Commerce and Criminal Investigation Division of the IRS, Mr. Miland will now pay for his many years of criminal conduct.”
His latest conviction stems from a Ponzi scheme that he use to steal or attempt to steal over $500,000 from people he convinced to invest in the scheme from 2010 through 2014.