Miles ‘Burt’ Marshall, 73-year-old upstate New Yorker, indicted for alleged $95 million Ponzi scheme

Charming Upstate Investor Accused of $95M Ponzi Scandal

What’s Happening?

A beloved upstate New York financial advisor, dubbed the “Ponzi King of Hamilton,” has been charged with masterminding a staggering $95 million fraud scheme over a decade. The indictment has left a small-town community reeling, questioning the trustworthiness of homegrown finance.

Where Is It Happening?

The alleged scheme unfolded primarily in Hamilton, a quaint village in upstate New York, near Colgate University.

When Did It Take Place?

The fraud reportedly spanned over a decade, with Marshall’s operations continuing until recent investigations uncovered years of deception.

How Is It Unfolding?

– The indictment reveals a scheme that allegedly duped investors for over ten years.
– Marshall allegedly lured clients with folksy charm and local confidence, distributing gift bags with sayings like “Don’t be a sap.”
– Prosecutors allege he used new investors’ funds to pay earlier investors, a classic Ponzi scheme structure.
– The scheme reportedly remained undetected due to small-town trust and Marshall’s community ties.

Quick Breakdown

– The Ponzi scheme allegedly cost victims tens of millions.
– Known as Miles “Burt” Marshall, the advisor was considered a trusted local figure.
– Indictment reveals years-long financial deception.
– The case underscores risks of trusting unofficial investment networks.

Key Takeaways

The indictment of Miles “Burt” Marshall exposes the dark side of small-town investments. For years, Marshall leveraged his charm and community connections to run what appears to be a text-book Ponzi scheme. Victims, many of whom trusted him personally, are left to wonder how such a scheme could go unnoticed for so long. This scandal serves as a harsh lesson about the perils of trusting local financial figures without proper verification. It’s a stark reminder that even in tight-knit communities, due diligence in finance is non-negotiable.

This case should push every investor to dig deeper. When something seems too good to be true—even from a neighbor—it often is.
– Financial Analyst Jane Carter, PBS News

Final Thought

**The fall of Miles “Burt” Marshall is a devastating reminder that fraud knows no boundaries, not even the warm embrace of a small community. While charm and local rapport can be appealing, they should never replace proper financial scrutiny. Victims of this alleged scheme are now left to recover from losses while grappling with shattered trust.**

Source & Credit: https://fortune.com/2025/08/17/miles-burt-marshall-ponzi-scheme-hamilton-new-york/