Latest news with #RandyMiller
Yahoo
6 days ago
- Business
- Yahoo
Sports Park Promoters Plead Guilty to $280 Million Bond Fraud
(Bloomberg) -- 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. NYC Congestion Toll Brings In $216 Million in First Four Months NY Wins Order Against US Funding Freeze in Congestion Fight 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. The Millers were charged last month with using fabricated letters of intent and fake pre-contracts to claim that various organizations were lined up to use the park. Bloomberg had reported that the pair claimed in bond prospectuses that they had deals with British soccer powerhouse Manchester United and a youth affiliate of US Major League Soccer's Real Salt Lake. Those teams and others later denied signing up with the pair. As part of the men's plea agreements, prosecutors agreed not to contest a sentence of less than seven years and a fine of $40,000 to $400,000. Randy Miller agreed to forfeit about $7.3 million, while Chad, a former minor-league baseball player, will give up about $4.8 million. The pair had failed to find financing for their project for years before they turned to revenue-backed municipal bonds through the Arizona Industrial Development Authority, avoiding the scrutiny and regulations attached to corporate stocks and bonds. The 320-acre complex, which had fields and courts for sports including baseball and soccer, opened in January 2022 but never made enough to cover a single bond payment and defaulted later that year. A nonprofit set up by the Millers to own the complex filed for bankruptcy in May 2023, saying construction setbacks, labor shortages and supply-chain delays amid the pandemic delayed the park's opening and cost revenue. Legacy Park was sold in October for $26 million, with bondholders receiving $2.4 million in cash and an 11% equity stake in the new owners. The case is US v. Miller, 25-cr-138, US District Court, Southern District of New York (Manhattan). Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Why Apple Still Hasn't Cracked AI YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Inside the First Stargate AI Data Center ©2025 Bloomberg L.P.
Yahoo
6 days ago
- Business
- Yahoo
Sports Park Promoters Plead Guilty to $280 Million Bond Fraud
(Bloomberg) -- 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. NY Wins Order Against US Funding Freeze in Congestion Fight NYC Congestion Toll Brings In $216 Million in First Four Months 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. The Millers were charged last month with using fabricated letters of intent and fake pre-contracts to claim that various organizations were lined up to use the park. Bloomberg had reported that the pair claimed in bond prospectuses that they had deals with British soccer powerhouse Manchester United and a youth affiliate of US Major League Soccer's Real Salt Lake. Those teams and others later denied signing up with the pair. As part of the men's plea agreements, prosecutors agreed not to contest a sentence of less than seven years and a fine of $40,000 to $400,000. Randy Miller agreed to forfeit about $7.3 million, while Chad, a former minor-league baseball player, will give up about $4.8 million. The pair had failed to find financing for their project for years before they turned to revenue-backed municipal bonds through the Arizona Industrial Development Authority, avoiding the scrutiny and regulations attached to corporate stocks and bonds. The 320-acre complex, which had fields and courts for sports including baseball and soccer, opened in January 2022 but never made enough to cover a single bond payment and defaulted later that year. A nonprofit set up by the Millers to own the complex filed for bankruptcy in May 2023, saying construction setbacks, labor shortages and supply-chain delays amid the pandemic delayed the park's opening and cost revenue. Legacy Park was sold in October for $26 million, with bondholders receiving $2.4 million in cash and an 11% equity stake in the new owners. The case is US v. Miller, 25-cr-138, US District Court, Southern District of New York (Manhattan). Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. Sign in to access your portfolio
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
17-05-2025
- Entertainment
- Yahoo
Yankees are 'best bet' in AL pennant markets
Can Aaron Judge Hit .400? Yankees Insider Reveals Untold Stories & 2025 Predictions! Dive into an exclusive interview with Yankees beat writer Randy Miller as he shares untold stories about Aaron Judge's remarkable 2025 season! From his humble roots to his quest for a .400 batting average, we explore Judge's evolution as a hitter, his impact on and off the field, and whether he can achieve baseball history. Plus, get insights on the Yankees' World Series chances and Judge's postseason struggles. Don't miss this deep dive into one of baseball's biggest stars! Subscribe for more sports interviews and analysis! Timestamps: 0:00 Intro to Sportsnaut Interview 0:48 Welcome & Guest Intro 1:44 Aaron Judge Off the Field: Personal Stories 6:06 Judge's 2025 Season: On-Field Dominance 6:56 Can Aaron Judge Hit .400? 14:13 Judge's Impact on Teammates 17:29 Postseason Struggles & Motivation 20:21 Closing Thoughts & Randy's Farewell #AaronJudge #Yankees #MLB2025 #Baseball #Sportsnaut #Hitting400 #YankeesNews #WorldSeries #MLBInterviews #SportsTalk 21:21 Now Playing Paused Ad Playing
Yahoo
17-05-2025
- Entertainment
- Yahoo
Giancarlo Stanton takes BP at Yankee Stadium
Can Aaron Judge Hit .400? Yankees Insider Reveals Untold Stories & 2025 Predictions! Dive into an exclusive interview with Yankees beat writer Randy Miller as he shares untold stories about Aaron Judge's remarkable 2025 season! From his humble roots to his quest for a .400 batting average, we explore Judge's evolution as a hitter, his impact on and off the field, and whether he can achieve baseball history. Plus, get insights on the Yankees' World Series chances and Judge's postseason struggles. Don't miss this deep dive into one of baseball's biggest stars! Subscribe for more sports interviews and analysis! Timestamps: 0:00 Intro to Sportsnaut Interview 0:48 Welcome & Guest Intro 1:44 Aaron Judge Off the Field: Personal Stories 6:06 Judge's 2025 Season: On-Field Dominance 6:56 Can Aaron Judge Hit .400? 14:13 Judge's Impact on Teammates 17:29 Postseason Struggles & Motivation 20:21 Closing Thoughts & Randy's Farewell #AaronJudge #Yankees #MLB2025 #Baseball #Sportsnaut #Hitting400 #YankeesNews #WorldSeries #MLBInterviews #SportsTalk 21:21 Now Playing Paused Ad Playing
