Arrest Warrant Issued for Florida man Accused of Ponzi Scheme

Authorities have issued an arrest warrant for a South Florida man they say ran a Ponzi scheme with losses estimated at over $2 million.  Roger A. Miller, 58, is accused of operating a Ponzi scheme through his extensive connections at a local golf course in Margate, Florida.  Margate police have issued an arrest warrant for Miller charging him with grand theft.  According to a Fort Lauderdale newspaper that spoke with him, Miller is currently believed to be in Thailand.

According to authorities, Margate was reputed to be a savvy investor who advertised guaranteed returns to investors 'from his seat at a clubhouse bar' at Oriole Golf Club in Margate.  Since at least 2004, investors were lured by the prospect of returns ranging from sixteen to thirty percent, and Miller would often show up at the clubhouse with envelopes containing interest payments.  At least thirty individuals invested with Miller, with the total amount invested estimated to exceed $5 million.  The scheme was exposed when Miller disappeared in February 2009.

Should Miller return to the United States, the state charges will not be his only problem.  A civil lawsuit was filed earlier this summer seeking class-action status on behalf of 18 investors alleging losses of at least $2.2 million.