Father-Son Plead Guilty to $280 Million Legacy Park Bond Fraud

Randy Miller and his son Chad Miller pleaded guilty to securities fraud and aggravated identity theft related to their scheme involving Legacy Park, a sports complex in Mesa, Arizona. The Millers fabricated letters of intent and other documents to falsely portray strong commitments from major sports organizations, misleading investors about the park's projected revenue and prospects. Their deceptive actions led to a bond default, causing investors to lose nearly all of the $284 million invested, while the Millers received substantial portions of the funds. The complex, which opened in 2022, quickly went bankrupt and was sold for a fraction of its construction cost. The Millers face prison sentences totaling up to seven years and have been ordered to pay combined judgments exceeding $13 million. Their victims included major investment firms such as Vanguard, AllianceBernstein, and Macquarie Group, and the case was prosecuted by the U.S. Attorney’s Office for the Southern District of New York.