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Miles "Burt" Marshall Pleads Guilty to Stealing Over $50 Million in Upstate NY Fraud

May 1, 2026
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Insurance Journal
Miles "Burt" Marshall Pleads Guilty to Stealing Over $50 Million in Upstate NY Fraud

Story Summary

Miles "Burt" Marshall, 74, pleaded guilty to second-degree grand larceny, securities fraud, and scheme to defraud in May 2026. He operated a Ponzi scheme in Hamilton, New York, promising high returns to hundreds of victims while spending their funds on personal expenses. A bankruptcy trustee estimated total losses at nearly $95 million, though Marshall faces a sentence of four to 12 years. His sentencing is scheduled for June 11 in Madison County Court.

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