Pocono News Section

Local Credit Union Victim of Ponzi Scam

Local Credit Union Victim of Ponzi Scam - Saturday, October 17, 2009 at 12:27PM EST

Saturday, Oct 17, 2009 @ 12:27am EDT
WILKES-BARRE, LUZERNE COUNTY-A Wilkes-Barre area credit union is snagged in a ponzi scheme.

Vantage trust is one of three Pennsylvania lenders out a total of two-million dollars.
The attorney general's office arrested Eugene Miley of Beaver Pennsylvania earlier today.
Attorney General Tom Corbet said Miley sold fictitious certificates of deposit to the credit unions.
The A-G also said he's not licensed as a financial adviser in the Commonwealth.
Miley faces fines and prison time if convicted.