He earned a small town’s trust. He owed $95 million in what authorities say was a Ponzi scheme

Miles “Burt” Marshall, a trusted local investment advisor in Hamilton, NY, filed for bankruptcy owing nearly $95 million to about 1,000 clients, leading to his indictment for running a Ponzi scheme. Promising 8% returns through local investments, his business collapsed following his hospitalization, revealing mismanagement and reliance on new investments to pay earlier ones.

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