Latest news with #LegacyPark
Bloomberg
6 days ago
- Business
- Bloomberg
Sports Park Promoters Plead Guilty to $280 Million Bond Fraud
A father and son from Phoenix pleaded guilty to defrauding several of the nation's biggest investment firms about the business prospects of a failed Arizona sports complex that wound up costing municipal bondholders more than $280 million. Randy Miller, 70, and his son Chad, 40, entered their pleas Wednesday to securities fraud and aggravated identity theft in Manhattan federal court. Victims of the scheme included Vanguard Group Inc., AllianceBernstein Holding LP, Macquarie Group 's Delaware Funds and others firms that invested in bonds linked to their Legacy Park development in Mesa.
Yahoo
16-05-2025
- General
- Yahoo
New memorial park open in Knoxville overlooking East Tennessee Veterans Cemetery
KNOXVILLE, Tenn. (WATE) — The French Broad Veterans Memorial Park in Knoxville is open following years of planning and $1.8 million in donations. Legacy Parks Foundation cut the ribbon on the French Broad Veterans Memorial Park on May 16. The park, which overlooks the French Broad River and the East Tennessee Veterans Cemetery, has been in the works since the spring of 2019, when Carol Evans, the foundation's executive director, sought help to develop a park off of Governor John Sevier Highway on 8.5 acres of land donated by Blue Water Industries. 'Makes you proud to be an American': Veterans running across US reach East TN 'We're extremely proud of this veterans park. It was a very, very collaborative effort. A lot of the veteran groups helped, supported us, told us what they needed, told us what they wanted, and we were just so fortunate to get this land, right across from the veterans' cemetery. Close to 10 acres just donated to Legacy Park, so it was a great gift,' said Evans. Legacy Park worked to design the park with veterans organizations. The design plan was made by the East Tennessee Community Design Center. The park includes a covered pavilion for events with a capacity for up to 75 people as well as private areas for reflection and small gatherings. The park also includes a paved walkway with memorials and a viewing area overlooking the river and veterans' cemetery. There is also a memorial wall honoring individual veterans and a flag courtyard honoring the six branches of service. 'Several elements in the park really are reflecting the veterans. The Court of Flags, where we're displaying all of the service flags. The memorial walk, where we have the ability to install 10 more monuments to individual services or honors, and then the pavilion to be able to accommodate group and events. So kind of those three things we were told were important,' said Evans. Ribbon cut on new 264-home neighborhood in North Knoxville 'Thanks to our partnership with Legacy Parks and Carol Evans the French Broad Veterans Memorial Park, overlooking the East Tennessee Veterans Cemetery, will add a much-needed park to the area,' said Knox County Mayor Glenn Jacobs. 'While its stunning views delight the eye, the rows of white headstones and the stories behind them fill our hearts. This will certainly provide veterans, their families, friends and loved ones a place to reflect.' In September 2020, Knox County Mayor Glenn Jacobs announced the county government would put $250,000 towards the project. Construction began in 2023 after Legacy Parks raised $1.3 million, the amount needed to begin construction, in October 2022. Evans explained that they faced several challenges due to being so close to a quarry, but the design team was able to work through it even though it caused construction to take longer than expected. Veterans Voices: Hear the stories of those who served Overall, the foundation raised $1.8 million to support the park. They received donations from the state of Tennessee, U.S. Congressman Tim Burchett, who secured federal funding, and sponsors including Food City, former Gov. Bill Haslam, David and Sandy Martin, and the Stowers family. The French Broad Veterans Memorial Park is located at 2302 East Governor John Sevier Highway in Knoxville. Legacy Parks plans to add a walking trail along the edge of the river bluff. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
18-04-2025
- General
- Yahoo
Historic Westside Legacy Park event to honor 2025 inductees Saturday morning
LAS VEGAS (KLAS) — A ceremony at the Historic Westside Legacy Park will honor new inductees on Saturday morning, building on the community leaders who have been enshrined since the park opened in 2021. Five honorees were announced in a news release announcing the event: Willia Mae Chaney (deceased) Porter Lee Troutman Jr. Eva Martin Beatrice Dyess Faith LeggettFor more information, visit The honorees come from a variety of backgrounds including education, business and law enforcement. The public is invited to the induction ceremony, scheduled to begin at 8:30 a.m. The park is at 1600 Mount Mariah Drive, just southwest of the corner of Lake Mead Boulevard and Martin Luther King Boulevard. ORIGINAL INDUCTEES: List of first people honored at park in 2021 City of Las Vegas Councilwoman Shondra Summers-Armstrong and Clark County Commission Vice Chairman William McCurdy II are scheduled to speak. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-04-2025
- Business
- Yahoo
Father and son indicted in New York over failed Arizona sports complex
By Jonathan Stempel NEW YORK (Reuters) - A father-and-son team has been indicted in Manhattan on charges they defrauded investors in a failed Arizona sports complex, causing more than $200 million in losses for Vanguard Group, AllianceBernstein and other municipal bond investors. Federal prosecutors said Randy Miller, 70, and Chad Miller, 41, were arrested on Tuesday and each charged with securities fraud, wire fraud, conspiracy and aggravated identity theft related to Legacy Park, a sports and entertainment complex in Mesa, Arizona, that collapsed into bankruptcy in May 2023. The U.S. Securities and Exchange Commission filed related civil charges against the Millers and a third defendant. Prosecutors said the Millers raised $284 million in bond offerings in 2020 and 2021 by inflating projected revenue for the 320-acre complex, citing forged "pre-contracts" and "letters of intent" from sports organizations to use it. Authorities said Legacy Cares, which the Millers created to own the park and pay bondholders, made no bond payments after the park's January 2022 opening as revenue and attendance fell short of promises, and the bonds defaulted nine months later. The indictment also said the Millers, both from Phoenix, misappropriated several hundred thousand dollars to pay themselves and cover personal expenses, including a home for Randy Miller and two SUVs. Legacy Park was sold for less than $26 million in the Chapter 11 case, and bondholders received only $2.5 million of the $284 million they were owed, authorities said. Lawyers for the Millers did not immediately respond to requests for comment. Parts of the bond offerings occurred in New York, court papers show. Bond funds run by Vanguard, AllianceBernstein and Macquarie Group's Delaware Investments sued the Millers and their underwriter last September, calling Legacy Park "doomed from the start." Pimco funds also sued, court records show. The bondholder complaint said fake letters of intent were provided for at least seven entities, including the Premier League's Manchester United soccer team and a youth affiliate of Major League Soccer's Real Salt Lake. The criminal case is U.S. v. Miller et al, U.S. District Court, Southern District of New York, No. 25-cr-00138. Sign in to access your portfolio
Reuters
01-04-2025
- Business
- Reuters
Father and son indicted in New York over failed Arizona sports complex
NEW YORK, April 1 (Reuters) - A father-and-son team has been indicted in Manhattan on charges they defrauded investors in a failed Arizona sports complex, causing more than $200 million in losses for Vanguard Group, AllianceBernstein (AB.N), opens new tab and other municipal bond investors. Federal prosecutors said Randy Miller, 70, and Chad Miller, 41, were arrested on Tuesday and each charged with securities fraud, wire fraud, conspiracy and aggravated identity theft related to Legacy Park, a sports and entertainment complex in Mesa, Arizona, that collapsed into bankruptcy in May 2023. The U.S. Securities and Exchange Commission filed related civil charges against the Millers and a third defendant. Prosecutors said the Millers raised $284 million in bond offerings in 2020 and 2021 by inflating projected revenue for the 320-acre complex, citing forged "pre-contracts" and "letters of intent" from sports organizations to use it. Authorities said Legacy Cares, which the Millers created to own the park and pay bondholders, made no bond payments after the park's January 2022 opening as revenue and attendance fell short of promises, and the bonds defaulted nine months later. The indictment also said the Millers, both from Phoenix, misappropriated several hundred thousand dollars to pay themselves and cover personal expenses, including a home for Randy Miller and two SUVs. Legacy Park was sold for less than $26 million in the Chapter 11 case, and bondholders received only $2.5 million of the $284 million they were owed, authorities said. Lawyers for the Millers did not immediately respond to requests for comment. Parts of the bond offerings occurred in New York, court papers show. Bond funds run by Vanguard, AllianceBernstein and Macquarie Group's ( opens new tab Delaware Investments sued the Millers and their underwriter last September, calling Legacy Park "doomed from the start." Pimco ( opens new tab funds also sued, court records show. The bondholder complaint said fake letters of intent were provided for at least seven entities, including the Premier League's Manchester United (MANU.N), opens new tab soccer team and a youth affiliate of Major League Soccer's Real Salt Lake. The criminal case is U.S. v. Miller et al, U.S. District Court, Southern District of New York, No. 25-cr-00138.
