If you stuck up a bank and walked away with a few hundred thousand dollars — several times — how long do you think you’d be in prison?
The case of a White Bear Lake man provides an instruction for how to steal money: do it with a white collar.
Randy Miland, 63, was sentenced in federal court to 7 1/2 years in prison for running a Ponzi scheme that stole $214,000. He was also ordered to pay restitution, the Star Tribune’s Paul Walsh reports.
He’s never going to do that. He owes too much from all his other scams.
Miland has done this before; many times before, and was never put away for any length of time.
“Over and over again, he stole people’s life savings with his fraudulent schemes,” said Minnesota Commerce Commissioner Mike Rothman. His agency regulates investment securities here.
He’s been stealing people’s life savings for 20 years, according to Walsh.
In 1999, he was convicted in state court of theft by swindle, sentenced to a 55-month term and ordered to pay more than $1.5 million in restitution. As of May 2016, he still owed nearly the entire amount.
In 2006, he was convicted in federal court of fraud, sentenced to more than three years in prison and ordered to pay more than $250,000 in restitution. He still owes nearly half that amount.
In April 2015, Miland was stripped of his chiropractor’s license for a second time in connection with defrauding patients and others. The Minnesota Board of Chiropractic Examiners had reinstated his license in 2011, explaining that he had provided sufficient evidence that he was rehabilitated and met the conditions of his suspension and probation. That proved not to be the case, when a former patient and girlfriend complained that he had stolen $60,000 from her.
When he gets out of prison, Miland will still be young enough to set up a new scam.